Startup BeatBread raised a $34m funding round in February 2022 to continue working on its ‘chordCashAI’ system for providing automated advances to musicians.
Distributors including UnitedMasters, Symphonic Distribution and Horus Music have been using it since last year with their artists, and now BeatBread has announced a new tranche of customers across the world.
11 to be specific: B Pure Sounds, Catalog Masters, Family In Music, F.A.M.E., FOMO, Golden Path Music, KMG Distribution, The Music Federation, Vital Music, M.A.D. Solutions and Orin Fund. The last two of those are BeatBread’s first partners in Africa.
The company also says that since launching in November 2020, it has “put eight figures of capital to work across nearly 500 advances”.
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