TuneGO® Closes Series B Financing Round
The music technology platform raised more than $7.7 million
May 18, 2018, 03:50 ET
LAS VEGAS, May 18, 2018 /PRNewswire/ -- TuneGO® Inc., a technology platform that connects artists with the music industry, announced today that it has successfully completed its Series B financing, totaling more than $7.7 million. Private equity firm Falcon Capital led the Series B financing round.
TuneGO will use the proceeds to advance their objective of transforming the music industry through the development of technology and application of Big Data. This successful funding round will allow TuneGO to continue on this trajectory, enhancing its technology platform and global infrastructure, which is already connected to many of the world's leading music and entertainment companies. The company will also increase the size of its engineering team, invest in user growth and continue to expand into new international markets, particularly in Asia.
"With the explosive growth of the global music market, our investors understand the breadth and scope that TuneGO is capable of reaching, especially with the Big Data we are able to generate. Big Data, which is the new currency in the music industry, both for the independent artist and music executives, drives talent and content decisions by industry insiders and with our unique model, we are leading the way," said John Kohl, co-founder and CEO, TuneGO.
With the recent introduction of its exclusive portal for music industry decision makers and influencers, TuneGO is living up to its mission. The portal, which aggregates a wide variety of data points that can be customized to meet an influencer's needs, is providing record labels, music supervisors, talent agents and playlist curators a new way to streamline and simplify the discovery of talent and content while at the same time keeping track of artists and music already on their roster. The industry portal is currently in use by a select group of TuneGO partners and access to the portal is by invite only.
"TuneGO, a next-generation music platform, will continue to innovate, connecting artists to the music industry with unprecedented access. We are always challenging the norms, and innovating products to usher in a new era in many categories, including rights management, royalty transparency for artists and how artists securely store and share their music with the world," said Kohl. "Our distribution platform is unlike anything else offered today and will be the most artist-friendly distribution model ever offered to the marketplace."
"TuneGO's platform has become a valuable tool to both music industry executives and artists. By re-thinking the way talent acquisition happens, they are undoubtedly changing the paradigm going forward," said Wilson Rondini, managing partner Falcon Capital. "With the tremendous growth in the music industry, the timing for TuneGO is now, and this is reflected by the success of this series funding."
TuneGO, which is free for members, is continuously monitoring its music platform for new artists with Big Data activity. Artists' activity on the TuneGO platform is collected from multiple online and offline sources, such as social media followers, fan engagement and industry feedback. A strong ranking on TuneGO can provide artists with access to career-boosting benefits including personalized A&R services, radio airplay, sync-licensing, music reviews, access to the world's most accomplished producers and introductions to major music labels.
For more information about TuneGO visit www.TuneGO.com, or contact TuneGO at [email protected].
About TuneGO® Inc.
TuneGO® Inc. is a technology platform and interactive community that connects artists with the music industry. TuneGO helps emerging and established artists build their fan base and grow as artists through personalized career development tools. TuneGO provides artists with access to industry opportunities including virtual A&R services, sync licensing deals, radio airplay, connections with the world's most accomplished music producers, introductions to music labels, and more. TuneGO has established partnerships and relationships with many of the world's leading music and entertainment companies. For more information, visit www.TuneGO.com, or contact TuneGO at [email protected]. TuneGO is a free download in the app store.
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SOURCE TuneGO Inc.