Fan engagement startup Laylo has closed a strategic investment round led by Eldridge.
In November, Eldridge, a holding company with a network of businesses across entertainment, finance, technology, and real estate, bought the pre-2020 music publishing catalog of Las Vegas rock band The Killers, including hits like Human and Mr. Brightside.
This latest investment brings Laylo’s total funds raised to more than $5 million.
Laylo is described as “a universal messaging platform for content creators, helping them drive more sales and streams by owning their fanbase”.
The platform allows artists to automatically notify fans about new content releases, merch and events.
Laylo was founded in 2017 by music industry veterans Alec Ellin, Chief Executive Officer, and Saj Sanghvi, Chief Technology Officer.
The company claims to be experiencing “rapid growth” through partnerships with C3 Presents, PodcastOne, Red Light Management, and more.
Laylo has worked with the likes of Calvin Harris (21M+ followers across social platforms), Dillon Francis (4.6M+ followers), Friday Beers (1.2M+ followers), and ODESZA (700K+ followers). Creators using Laylo see seven times the conversion rate of traditional presale tools.
Eldridge is joined by industry partners and investors, including: Y Combinator; Charlie Walker, founder of C3 Presents; Jason Robins, CEO and Co-Founder of DraftKings; Kevin Mayer, Chairman of DAZN and former CEO of Tik Tok; and Moment Ventures.
“We’re thrilled to partner with advisors and investors who share our passion to empower millions of creators globally.”
Alec Ellin, Laylo
Alec Ellin, Co-Founder and CEO of Laylo, said: “With thousands of creators across music, podcasting, fashion and gaming already using Laylo, this investment led by Eldridge builds on the momentum and growth of the platform.
“We’re thrilled to partner with advisors and investors who share our passion to empower millions of creators globally.”
“Laylo’s platform offers creators unique access to their fanbases.”
Todd Boehly, Eldridge
Todd Boehly, Co-founder and CEO of Eldridge, added: “Laylo’s platform offers creators unique access to their fanbases.
“We see an opportunity to deepen fan relationships and engagement across many different markets, and we look forward to supporting Laylo’s continued growth as they scale their business.”Music Business Worldwide