We first wrote about startup BeatBread in August 2021, when it talked about its work helping music distributors including UnitedMasters and Symphonic Distribution provide advances to artists.
They were all using BeatBread’s ‘chordCashAI’ system to automate that process. Now BeatBread itself has secured some funds… from investors.
The company has closed a $34m seed funding round led by Deciens Capital, with a number of other VC firms also chipping in. The company says that it has provided more than 300 advances to artists and labels since its launch, alongside those partnerships with distributors.
“This investment will allow us to expand our feature set and will extend the already large capital pool in beatBread’s invite-only Investor Network,” said CEO Peter Sinclair.