Business

After raising $65m, music making platform BandLab hits 50m user milestone


In April, the social music creation platform BandLab disclosure that it raised $65 million in a Series B round, with an after-money valuation of $315 million.

Today, Singapore-based BandLab announced the milestone of 50 million users on its platform, up from 30 million users in March 2021.

In addition to today’s user count update, BandLab has also announced a new initiative called Creator Grants.

The grant will total $60,000 and will be awarded to select individuals on BandLab, who the platform says “have demonstrated maturity and resourcefulness in their quest to reach the heights.” new music”.

BandLab’s first creator funding will see five original creators benefit from the initiative.

Recipients include 14-year-old TikTok rapper, rapper Cl4pers, producer MJbeats, Tracklanta winner Ilene and TWIN, and YouTube Content creator behind BandLab rapper KngWilo’s response.

BandLab is the flagship product of BandLab Technologies, a division based in Singapore Caldecott music group (CMG), also owns Vista Musical Instruments and Network NMEcounts publications like NME, Uncut and Guitar.com in its list of brands.

The BandLab Technologies division also includes a professional-grade digital audio workstation, Cakewalk.

BandLab Technologies, the parent company of Singapore-based music creation app BandLab rebrand as the Caldecott Band (CMG) in December.

BandLab’s Series B round was led by Vulcan Capital, the multibillion-dollar investment arm of Microsoft co-founder and philanthropist Paul G. Allen, with participation from Caldecott Music Group and K3 Ventures, a firm Venture capitalists soon backed super app Grab and tech giant Bytedance.

“We aim to democratize music creation and give people interested in making music the opportunity to do just that and thrive while doing it.”

Meng Ru Kuok, BandLab

Meng Ru Kuok, CEO & Co-Founder of BandLab, said: “Our goal with the Creator Grant is to support and further develop creators by funding their investment in the creative process. their.

“We see this as potentially funding a production device or a new tool, a social ad or a marketing campaign. BandLab has absolutely no obligation to content ownership, we are truly here to support creators in their journey. “

Kuok added: “We set out to democratize music creation and give people interested in making music the opportunity to do just that and grow while doing it.

“We feel like we’re still just getting started, but we’re incredibly proud to have brought together 50 million people to enjoy making music.”Worldwide music business



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