Music creation firm BandLab is raising money again. The company has trousered $65m in its Series B funding round, which valued it at $315m. The round was led by Vulcan Capital, but BandLab’s own parent company Caldecott Music Group was also part of the round. As was Prosus Ventures, a Dutch VC fund that’s part of the Naspers group – the largest shareholder in Tencent.

If it feels like just a few months since we were reporting on a Series B funding round for BandLab… that’s because it is! BandLab announced an initial $53m round at a $303m valuation in December 2021.

Prosus was the new investor swelling the total to $65m, as well as juicing the valuation a little. The news follows BandLab’s acquisition of artist services firm ReverbNation in November 2021, with BandLab saying it will soon integrate the latter’s features into its platform.

Music Ally’s next Learn Live webinar will help you understand what’s required for artists to thrive in new international markets!

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Stuart Dredge

Music Ally's Head of Insight

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