BandLab Technologies, a Singapore-based social music creation platform, has raised $25 million in Series B1 funding, bringing its post-money valuation to $425 million. The round was led by returning investor Cercano Management (formerly Vulcan Capital), with participation from Prosus Ventures.
This new funding adds to BandLab Technologies’ $65 million Series B, which it raised at a $315 million post-money valuation in April 2022. The company is the digital division of Caldecott Music Group, which also includes Vista Musical Instruments and NME Networks.
BandLab Technologies has a total of 60 million registered users. Its suite of features includes a digital audio workstation called Studio, royalty-free sample and loops service Sounds, and an AI music generator tool called SongStarter. The company also owns Cakewalk, a digital audio workstation for professional musicians, ReverbNation, a professional services site for indie musicians and producers, and beat marketplace Airbit.
The new funding will be used to hire and develop new music creation tools, as well as initiatives like BandLab for Education.
BandLab’s mission is to empower creators to make and share their music with the world. With its suite of tools and services, the platform makes it easy for musicians of all levels to create, collaborate, and share their music with others.
One of the key features of BandLab is its digital audio workstation, Studio. This powerful tool allows users to record, edit, and mix their music with ease. It also includes a range of virtual instruments and effects, making it easy for users to create professional-quality tracks.
Another popular feature of BandLab is Sounds, a royalty-free sample and loops service. With Sounds, users can access a huge library of high-quality samples and loops that they can use in their own music. This makes it easy for musicians to add depth and complexity to their tracks without having to create everything from scratch.
BandLab’s SongStarter tool is another innovative feature that sets the platform apart. This AI-powered tool generates musical ideas based on a user’s input. Users can choose from a range of genres and moods, and SongStarter will generate a unique musical idea that they can then build upon.
In addition to its suite of tools, BandLab also offers a range of services for musicians. ReverbNation is a professional services site that helps indie musicians and producers promote their music and grow their fan base. Airbit is a beat marketplace where producers can sell their beats to other musicians.
BandLab for Education is another initiative that the company is investing in with its new funding. This program provides educators with free access to BandLab’s suite of tools and services, making it easy for them to incorporate music creation into their curriculum.
Overall, BandLab Technologies is a powerful platform that is empowering musicians of all levels to create and share their music with the world. With its suite of tools and services, the platform is making it easier than ever for musicians to collaborate, learn, and grow.