Music production platform Musiversal raises €1.3m in growth funding round
Musiversal, a global platform designed for making music creation and production more accessible to musicians and studio producers, announced today that it successfully raised a €1.36m seed financing round.
The funding was led by the Shilling, a venture capital firm, counting also with the participation of existing investors, namely LC Ventures, REDangels and Best Horizon.
In addition to the Seed round, Musiversal also received €310,000 in funding from the Portugal 2020 Programme, with the support of FEDER/European Union, bringing the company’s total to €2.51m in funding to-date.
The investment raised will be used by the Portuguese music production platform to accelerate its growth, with the goal to quadruple the number of its users and make music recording more accessible and cheaper.
Musiversal’s new platform was created in September 2020, while the music industry was facing an unprecedented crisis as a consequence of the COVID-19 pandemic. Through a monthly subscription, Musiversal allows musicians, producers and sound engineers to participate in music recording sessions directly from home. In 2021, the platform reached the milestone of 3,000 recording sessions per month.
“Our users rate the sessions with five stars 98% of the times they have used Musiversal, meaning that we know we have created a subscription that is a success for songwriters and music producers. Now, our mission is to get more songwriters to try the service”, said founder and CEO of Musiversal, André Miranda.
Ricardo Jacinto, Partner at Shilling, mentioned “Musiversal is entering a new phase: this round will consolidate its growth and allow the startup to take advantage of the huge opportunity that arose with the pandemic, in order to facilitate access to music creation and production. We are very pleased to support such a dedicated team, with so much experience and a proven track record in such a short time of existence.”