BandLab, a Singapore-based social music creation platform, has announced a US$53 million fundraise, led by Vulcan Capital.
K3 Ventures and existing investor Caldecott Music Group also participated.
The new capital will allow BandLab to expand its team and refine and grow its offerings to music creators and aspiring artists worldwide.
This round brings the startup’s post-money valuation to US$303 million.
Launched in 2015, BandLab is a next-generation social music creation platform, which aims to support creators of all kinds, from first-time creators to Grammy-winning producers.
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Its cross-platform creative ecosystem offers users everything from its Mix Editor to a royalty-free Sounds library, as well as Mastering, newly announced AI-powered SongStarter.
Beyond creation tools, it also offers artist services like distribution and direct fan subscriptions. The upcoming integration of its recently acquired independent artist services platform ReverbNation into BandLab will further expand the suite of services available to independent artists.
Its parent BandLab Technologies also runs the professional-level digital audio workstation, Cakewalk.
“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 CEO and co-founder Meng Ru Kuok.
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“We’re not only doubling down on our market-leading creator tools but also prioritising 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,” Ru Kuok added.
In September 2017, BandLab had acquired London-based music live-streaming service Chew.tv. A year earlier, it had bought a 49 per cent stake in Rolling Stone magazine.
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