Music tech startup Songfinch has secured $17 million, completing a Series A funding round to bolster its efforts to develop “middle-class musicians.” built in chicago report.
Songfinch is one of the few music startups aiming to change the way independent musicians are paid for their work.
“The industry tends to be a star-driven league, where the top 2% get a chance to join and eat most of the industry’s dollars, while the remaining 98% struggle hard for scrap,” he said. Songfinch CEO John Williamson said. Built in Chicago.
The goal of Songfinch’s online marketplace is to provide artists with a hub where consumers can request the creation of custom songs. The platform allows users to create bespoke tracks for a base price of $200, with the style, mood and other custom elements chosen by the musician. Over the past year, the company has paid artists more than her $12 million, with each artist making an average of about $25,000 a year.
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Songfinch CEO John Williamson.
John Williamson/ LinkedIn
Songfinch’s latest funding round, led by Valor Siren Ventures, brings the company’s total venture capital to $21.8 million. The new round will be used primarily to add staff to expand Songfinch’s products and technology. AxiosThe Weeknd, Doja Cat and legendary musicians contributed to the company’s $5 million seed round.
“We have an ambitious roadmap and this new funding will help us continue to take the lead in reimagining the relationship between creators and customers,” Williamson added. Our main goals at At are two-fold: to give everyone the opportunity to create and share their life experiences through music, and to free artists to make a living from an industry that routinely makes it impossible for them to do so. It is to provide better opportunities for building
Learn more about songfinches here.
