BandLab Singapore - Social Music Platform Raises $53 Million Series B Led by Vulcan Capital
(ASEAN - Startups) BandLab, the Singapore-based social music platform, announced Friday it's first funding round to involve outside investors.
Led by Vulcan Capital with notable participation from K3 Ventures as well as existing investor Caldecott Music Group, the $53 million round will allow BandLab to expand its team and continue to refine and grow its offerings to music creators and aspiring artists worldwide, the startup said in a statement.
The $53 million round results in a post-money valuation of $303 million and involves several new investors who have played key roles in shaping the social, tech, and music creation landscape, it said.
“Our vision is a future where there are no barriers to making and sharing music, in particular among independent musicians and creators, and among mobile-first users, the billions with smartphones and original musical ideas,” said BandLab Chief Executive Officer and Co-Founder Meng Ru Kuok.
“We’re not only doubling down on our market-leading creator tools but also prioritizing compensation for artists and protection for rights holders. If creators aren’t being paid fairly, it’s a major barrier to their development and growth as artists,” he added.
Launched in 2015, BandLab is the next-generation social music creation platform on a mission to break down the technical, geographic, and creative barriers for musicians and fans. Free-to-use, the mobile-first cross-platform digital audio workstation, and social network unite the entire creator journey into one place, boasting a suite of features and tools for creators to make and share their music with fans.
Its platform supports creators of all kinds of sophistication levels, from first-time creators to GRAMMY-winning producers, much as workplace productivity tools support businesses large and small. Its cross-platform creative ecosystem offers users everything from their award-winning Mix Editor to a comprehensive royalty-free Sounds library, as well as Mastering, newly announced AI-powered SongStarter, and more.
Beyond creation tools, artist services like Distribution and direct fan subscriptions empower the fast-growing creator economy, and the upcoming integration of recently acquired leading independent artist services platform ReverbNation into BandLab will further expand the suite of services available to independent artists.
“With a passionate community of millions worldwide, BandLab has an incredible track record of providing innovative and meaningful tools for music creators and artists globally, not only to primary markets like the US but extending far beyond into developing and underserved markets as well. With accessibility, creativity, and collaboration at their core, we strongly believe in their vision for the future of music creation, and are excited to embark on this journey as a partner,” said Tommy Teo, Managing Director and Head of South-east Asia at Vulcan Capital.
Lead investor Vulcan Capital is the multi-billion-dollar investment arm of Microsoft co-founder and philanthropist Paul G. Allen.
New investor K3 Ventures is a venture capital firm that brings strategic value through its partnerships in the Southeast Asia ecosystem and was an early backer of super app Grab as well as tech giant Bytedance.
>>> You can read more articles on innovation in Singapore:
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- Singapore's Insurtech Igloo partners with Pine Labs to expand Malaysia market
