Social platform Riff has secured a new round of investment of approximately $4 million, bringing the startup’s total raised to over $10 million to date.
This new investment round was joined by a trio of powerhouse music companies: Quality Control Music (home to Lil Baby, Migos, City Girls, Lil Yachty), EMPIRE (Yung Bleu, Tyga, D Smoke, Tink, Fireboy DML and more) and Top Dawg Entertainment (home to Kendrick Lamar, Isaiah Rashad, Schoolboy Q, SZA and more).
In addition, Quality Control’s COO Kevin ‘Coach K’ Lee will join Riff’s Board of Directors.
Riff combines voice and video chat with music and offers room-based interactions between users including creators and fans.
The app, according to Riff, “licenses an extensive music catalog, including all major and independent labels”, for high fidelity playback in Riff rooms.
The startup claims to create “entirely new revenue” models and opportunities for creators where they can live-stream and interact directly with fans, host listening parties and release albums and merch all inside the app.
Creators using Riff, according to the company “include major players in music, sports and fashion”.
Riff is helmed by CEO and Stanford engineer Kara Katz, CTO and Stanford computer scientist Steve Petersen, and EVP, Morehouse alumni and entertainment executive Brandon “BL” Lewis. The company says that its team is comprised of 75% women and POC.
Investors include top VCs and angels in Silicon Valley and some of the biggest artists and executives in hip hop and country music, bringing eager fan bases and exclusive content to the platform.
“It was a no-brainer investment for QC.”
Kevin ‘Coach K’ Lee, Quality Control
Quality Control COO Kevin ‘Coach K’ Lee said: “Riff created an entirely new category – culture media. It combines the best of everything we do on social media. It was a no-brainer investment for QC.”
“We’re honored to be part of the Riff team.” –
Pierre “P” Thomas, Quality Control
Quality Control CEO Pierre “P” Thomas said: “We’re always looking for opportunities for our artists. Riff gives them a new way to connect with their fans and monetize the work they put in daily.
“We’re honored to be part of the Riff team.” –
“Riff’s ability to integrate the best facets of social media is next level.”
Ghazi Shami, EMPIRE
EMPIRE CEO and Founder Ghazi Shami, said: “The Riff tech is world class. Riff’s ability to integrate the best facets of social media is next level. EMPIRE is all in to leverage Riff on behalf of our global artist roster.”
“Tech innovation and music go hand in hand and Riff is leading the new wave for apps.”
Anthony Tiffith, Top Dawg Entertainment
TDE CEO Anthony ‘Top Dawg’ Tiffith said: “Tech innovation and music go hand in hand and Riff is leading the new wave for apps.
“I’ve always been about reaching for the next level challenge, so I’m excited for TDE to invest in this breakthrough.”
“For too long the Culture has constantly driven advancements in technology but has never played a part in the ownership.”
Brandon “BL” Lewis
EVP Brandon “BL” Lewis said: “My goal with Riff is to change the narrative and bridge the gap between Culture and Tech by adding ‘Culture To The Cap Table’ in a historic fashion.
“For too long the Culture has constantly driven advancements in technology but has never played a part in the ownership. Based on the Culture’s influence, these companies are being acquired for billions, and we are not a part of that conversation – the buck stops here.
“As a Culture we need to change our mindset while working with these companies and understand the importance of ownership. As my father the honorable Butch Lewis would say, ‘Let’s not be afraid to get in the risk business,’ and refrain from using the term ‘Where’s the bag at.’
“We are now investing our money, expertise and influence in driving something that we own. Riff is putting ‘Culture On The Cap Table.’Music Business Worldwide