In April, social music making platform BandLab revealed that it raised $65 million in a Collection B spherical, with a post-money valuation of $315 million.
At present, Singapore-based BandLab has introduced a milestone of fifty million customers on its platform, up from 30 million customers in March 2021.
Along with in the present day’s person quantity replace, BandLab has additionally introduced a brand new initiative referred to as the Creator Grant.
This grant will complete USD $60,000, and can be awarded to pick people on BandLab, who the platform says “have proven nice development and resourcefulness of their efforts to achieve new musical heights”.
BandLab’s inaugural Creator Grant will see an preliminary 5 creators profit from the initiative.
Recipients embrace 14-year-old viral TikTok rapper Cl4pers, producer MJbeats, Tracklanta winners Ilene and TWIN, and the YouTube content material creator behind BandLab rapper reactions KngWilo.
BandLab is the flagship product of BandLab Applied sciences, a division of Singapore-based Caldecott Music Group (CMG), which additionally owns Vista Musical Devices and NME Networks, which counts publications corresponding to NME, Uncut and Guitar.com amongst its roster of manufacturers.
The BandLab Applied sciences division additionally consists of professional-level digital audio workstation, Cakewalk.
BandLab’s Collection B spherical was led by Vulcan Capital, the multi-billion-dollar funding arm of Microsoft co-founder and philanthropist Paul G. Allen, with participation from Caldecott Music Group and K3 Ventures, a enterprise capital agency that was an early backer of tremendous app Seize and tech big Bytedance.
“We got down to democratize music creation and provides individuals with curiosity in creating music the chance to take action and to thrive whereas doing it.”
Meng Ru Kuok, BandLab
“Our purpose with Creator Grant is to help and additional creator growth by giving funds for them to put money into their very own inventive course of,” stated BandLab CEO & Co-founder, Meng Ru Kuok.
“We see this probably funding manufacturing tools or a brand new instrument, social advertisements or a advertising and marketing marketing campaign. There’s completely no obligation from BandLab as to content material possession, we’re simply really right here to help the creator of their journey.”
Added Kuok: “We got down to democratize music creation and provides individuals with curiosity in creating music the chance to take action and to thrive whereas doing it.
“We really feel we’re nonetheless simply getting began, however are extraordinarily happy with having introduced 50M individuals collectively to benefit from the music making course of.”Music Enterprise Worldwide