Canada-born LANDR, the AI-powered creative platform for musicians, has closed its Series B financing round, raising $26 million.
The round was led by Sony Innovation Fund, microphone manufacturer Shure, state-owned financing corporation Investissement Québec and Fonds de solidarité FTQ, with investments from Warner Music, Plus Eight Equity Partners, Slaight Communications, YUL Ventures and PEAK Capital Partners.
The company received $7m as an initial convertible note from Investissement Québec and other investors, followed by an additional $19m of equity from the above mentioned group of investors.
The company plans to use this new capital to accelerate its growth and expand into new markets.
New products and innovation will also be a key area of focus, says LANDR.
Launched in 2014, LANDR offers mastering, distribution and promotion services.
This investment follows LANDR recently crossing the 2.5 million artist milestone, mastering, releasing and promoting over 12m tracks for artists in 160 countries.
The company, which releases thousands of tracks weekly on platforms like Spotify, Apple Music and Amazon Music, says that it also has an “ambitious growth strategy” in place for its distribution services.
Landr currently has 75 employees and offices in Montreal, Los Angeles, Berlin and Tokyo.
“Having the support of established music companies like Sony, Shure and Warner as well as music industry investors such as Plus Eight and Slaight is a vote of confidence, and marks the start of a new chapter for LANDR.”
Pascal Pilon, LANDR
LANDR CEO Pascal Pilon, said: “Having the support of established music companies like Sony, Shure and Warner as well as music industry investors such as Plus Eight and Slaight is a vote of confidence, and marks the start of a new chapter for LANDR.
“This Series B will allow us to take our knowledge and expertise in music technology to new market shifting directions.”
“We’re excited to be involved with LANDR and look forward to hearing the talented artists its new platform will help to shape.”
Brian Woodland, Shure
Brian Woodland, VP of Business Development for Shure, added: “Shure is known for developing innovative products that support musicians and content creators as they hone their craft.
“We’re excited to be involved with LANDR and look forward to hearing the talented artists its new platform will help to shape.”
Guy LeBlanc, President and Chief Executive Officer of Investissement Québec, said: “We are proud to support LANDR, a leader in the audio mastering sector, in order to give it the flexibility to develop the functionalities of its platform, seize expansion opportunities and consolidate its positioning in the market, both in Québec and abroad.”
Alain Denis, Senior Vice-President, Venture Capital Investments, Fonds de solidarité FTQ, added: “LANDR shows great development potential and the Fonds de solidarité FTQ is proud to support a company that has an impact in two sectors in which it believes in, artificial intelligence and culture.
“Thanks to its promising technological platform developed here in Quebec, LANDR provides an innovative tool for creators and musicians around the world, and helps them push the limits of their art.”
“LANDR provides strong leadership and influence within the artist community by democratizing great sound and providing much needed tools for musicians.”
John Acquaviva, Plus Eight Equity Partners
John Acquaviva, DJ and Partner, Plus Eight Equity Partners said: “LANDR provides strong leadership and influence within the artist community by democratizing great sound and providing much needed tools for musicians.
“Participating in the Series B transaction with other leading industry investors will help the company expand its footprint into new markets with new offerings, to become the undisputed technology of choice for the global music creator community.”Music Business Worldwide
