Grace Priscilla Teo · · 2 min readBandLab raises $25m in series B1 round, valuation hits $425m
Photo credit: BandLab
Singapore-based BandLab Technologies has raised US$25 million in a series B1 funding round led by Cercano Management, with participation from Prosus Ventures.
This builds on its previously announced series B round in 2022, according to a media statement.
Funding details
- Funding amount: $25,000,000
- Lead investors: Cercano Management
- Other investors: Prosus Ventures
- Stage: Series B1
- Valuation: $425,000,000
The firm, which is valued at US$425 million following the latest investment, plans to use the funding to further develop its music creation tools and focus on emerging creator campaigns.
BandLab is behind the music creation platform of the same name, which has a community of over 60 million registered users.
The company’s ecosystem also includes digital audio workstation Cakewalk, artist services platform ReverbNation, and recently acquired beat marketplace Airbit.
Founded by Meng Ru Kuok, the son of palm oil billionaire Kuok Khoon Hong, BandLab made headlines in 2016 when it acquired a 49% stake in American magazine Rolling Stone through a US$40 million deal. Three years later, the startup snapped up British publications NME and Uncut.
See also: This made-in-Singapore app with millions of users is democratizing music creation
More details
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