Home Business NewsBusinessBusiness Growth News Social music-tech platform announces £1.9m total investment

Social music-tech platform announces £1.9m total investment

by LLB Finance Reporter
23rd Feb 21 8:47 am

Vampr, dubbed the LinkedIn for creatives, has today announced a further £570k ($790k) in funding – taking its total investment raised to £1.9M ($2.6M) – alongside the opening of a London office. In an oversubscribed crowdfunding round, the company raised the maximum permitted in a 12 month window under Reg CF laws with over 2,000 investors, as the music tech start-up lays down plans for its upcoming Series A.

The funding will go towards further expansion with a desktop experience and new live streaming tools planned to allow creatives to broadcast their performances to the world, helping to cement Vampr as the only 360° self-service platform for artists.

Founded in 2015 by The Music Network’​s 30 Under 30 Power Player, Josh Simons, and multi-award-winning songwriter/guitarist and tech entrepreneur, Baz Palmer, Vampr began as a groundbreaking social-professional network for creatives enabling over 6 million connections across 190+ countries to create hundreds of thousands of musical works along the way. In the past year, the startup has seen its Monthly Active Users (MAU) grow by 400%, experienced a 1,273% increase in revenue, and expanded its team in its Nashville and London offices.

The 360° self-service platform for artists has been designed to provide everything from distribution, publishing, education and other digital services to a fast-scaling network of over 750,000 users. As it stands, musicians alone spend up to £32 billion/$45 billion a year on essential services currently fragmented across multiple providers. The company’s premium service, Vampr Pro, includes digital distribution, allowing users to share their music on leading music streaming platforms such as Spotify, Apple Music and YouTube, while keeping 100% of their royalties.

Vampr is already used by many industry heavyweights to source new talent: from Kanye West’s Grammy-winning producer, Antony Kilhoffer, to Rae Khalil from hit Netflix music competition show, Rhythm + Flow, hosted by Queen Latifah and Chance The Rapper. Everyone from music industry executives at Warner, Sony and Beatport, to institutional investors, NHL players and even stay-at-home parents have invested in the Vampr platform.

Josh Simons, Vampr’s Co-Founder and CEO, said, “We are thrilled to have successfully closed another equity crowdfunding campaign. I want to thank each and every one of our 2,054 investors, many of them also Vampr users, my team for supporting Baz and I throughout the raise, and of course the entire Vampr community which continues to blossom as the platform improves.”

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