Pre-release music promo and sharing service Byta has announced a new seed funding of $1.9m. The round was led by the Canadian Media Fund as well as private investors, such as Scott Kannberg (of indie band Pavement).
The platform lets artists and labels securely share music with others in the industry ahead of release in a variety of download formats (MP3, FLAC, WAV, ALAC) as well as through secure streaming links.
The company, which was founded in 2015, was bootstrapped until this point in its development. The company claims this is the first time in a decade that there has been new investment in the audio-sharing sector (although Tully, which took investment from Sony Music earlier this year, might disagree with that.)
Byta says it will also be investing in its non-profit arm, HowWeListen Education, which is based around interviews with musicians and industry professionals on how they consume music). It arose out of its own #HowWeListen blog which has also evolved into a series of conference and panel talks.
Photo by Spencer Imbrock on Unsplash
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