When Landr launched, it was a tool that used artificial-intelligence technology to automate the mastering of music tracks. It’s a sign of the company’s expanding ambitions that it now describes itself as an “AI-powered creative platform for musicians” that now includes distribution and promotion.
Investors approve: Landr has just raised a Series B funding round of $26m, with Sony Innovation Fund, microphone-maker Shure and Warner Music Group among the investors chipping in.
The company says it’ll use the funding to “accelerate its growth, expand into new markets and further capitalise on its position as a leader in music AI” while also launching new products and promising that it has “an ambitious growth strategy in place for its distribution services”. More than 2.5 million artists have so far used Landr in some way.
The Series B round is a big step forward in terms of investment, taking Landr to just under $35m of total funding so far. As ever, with this level of funding come high expectations, including thoughts of an eventual exit. That said, Spotify’s recent pullback from direct artist uploads may have taken one potential acquirer out of the reckoning on that front.