Business

Eldridge and LVRN Management invest in Fan engagement startup Laylo, bringing total funds raised to over $8m


Last July, Eldridge, a parent company with businesses in entertainment, finance, technology and real estate, invested in a Laylo fan engagement startup such as Laylo. part of a strategic investment round.

By Eldridge investment in the platform to seven months after it purchased music publishing catalog before 2020 by the Las Vegas rock band The Killers.

Now, the company has led a new round of investment in Laylo, bringing the startup’s total funding to $8 million to date.

The new round also featured many prominent names from both the investment community and the music industry, including Third Prime Ventures, LVRN Management, Shane Mac (XMTP), Gil Weisblum (Ranger Global), Patricio Worthalter (POAP), Jonathan Strauss (Create a music group), Damian Manning (HiFi), Summer Watson and Micah Johnson (Aku World), Sam Evitt (Method Music), and Moment Ventures.

The amount of capital raised by the Company in July 2021 to attract investment from Y Combinator; Charlie Walker & Charles Attal, founders of C3 Presents; Jason Robins, CEO and Co-Founder of DraftKings; Kevin Mayer, Founder of Candle Media and President of DAZN; Fruit garden; Music by Sonyof The Orchard; and Moment Ventures.

Laylo is described as a “CRM and Drops platform for creators and brands”.

Launched in 2021 by Alec Ellin and Saj Sanghvi, Laylo enables musicians, podcasters, celebrities and brands to automatically notify fans of new content, merchandise and tickets via SMS, Email, Instagram DM, Facebook Messenger and Discord.

Laylo claims to offer millions of “drops” per month across music, podcasting, sports, fashion, games and other categories, with notable clients including Sam Smith, ODESZA, Dixie D’Amelio, Kodak Black, Miles Teller, The Black Keys, Rickie Fowler, and friends with DAO benefits.

The company reportedly hit a number of product and development milestones over the past 12 months, including increasing the number of creators using its platform from over 5x to over 10,000.

Laylo also said that it has established strategic partnerships with Acast, Fevo (sports and entertainment ticketing), Sound.xyz (music NFT), Polygon (Web3 engine), Hoo.be (affiliate). in biology) and Genies (digital fashion), as well as CD BabyPixelynx (gaming), Voice.com (NFT art collection).

“We were blown away by the product and saw how quickly our artists felt the same way.”

Justice Baiden, Manager LVRN

Justice Baiden, Co-Founder of LVRN Management, said: “We were blown away by the product and saw how quickly our artists felt the same way.

“Within a few days of meeting Team Laylo, we launched contracts with DVSN and Westside Boogie and with success, we will bring the rest of our roster into play.

“Turning social media followers into a direct connection with fans is key to developing superstars and Laylo allows us to take that to the next level. Laylo has been the perfect CRM platform for discounts and the creator tools they’re rolling out are game-changing, we knew we had to invest. “

“We are excited to have the additional capital to triple our mission of building Creator CRM by growing the team, expanding into new verticals, and rolling out new features faster.”

Alec Ellin, Laylo

Alec Ellin, Co-Founder and CEO of Laylo, said: “This year, we’ve helped creators across music, podcasting, games, sports and video create experiences. exciting, attracting tens of millions of tickets, merchandise, content and collectibles.

“We are pleased to have the additional capital to triple our mission of building Creator CRM by growing the team, expanding into new verticals, and rolling out new features faster.

Ellin added: “Since launch, we’ve heard that creators feel ignored by legacy platforms that don’t see them as a category worth building on. We are here to fill the void. Creators are the next generation of entrepreneurs in a hyper-growth market, and we’re building them the business tools they deserve. “Worldwide music business

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