Musiversal, a global platform designed to make music creation and production more accessible to musicians and studio producers, has announced closing a €1.36 million seed financing round. The funding was led by the Shilling, a venture capital firm, counting also with the participation of existing investors, namely LC Ventures, REDangels and Best Horizon.
In addition to the round, Musiversal also received €310K in funding from the Portugal 2020 Programme, with the support of FEDER/European Union, bringing the company’s total to €2.51 million in funding to-date.
The investment raised will be used by the Portuguese music production platform to accelerate its growth, with the goal to quadruple the number of its users and make music recording more accessible and cheaper.
Musiversal’s new platform was created in September 2020, while the music industry was facing an unprecedented crisis as a consequence of the COVID-19 pandemic. Through a monthly subscription, Musiversal allows musicians, producers and sound engineers to participate in music recording sessions directly from home. In 2021, the platform reached the milestone of 3,000 recording sessions per month.
“Our users rate the sessions with five stars 98% of the times they have used Musiversal, meaning that we know we have created a subscription that is a success for songwriters and music producers. Now, our mission is to get more songwriters to try the service”, said founder and CEO of Musiversal, André Miranda.
Ricardo Jacinto, Partner at Shilling, explained: “Musiversal is entering a new phase: this round will consolidate its growth and allow the startup to take advantage of the huge opportunity that arose with the pandemic, in order to facilitate access to music creation and production. We are very pleased to support such a dedicated team, with so much experience and a proven track record in such a short time of existence”.
Musiveral’s platform allows musicians and music producers to make the music production process ten times cheaper, facilitating and democratising the industry. Additionally, unlike other music industry technologies, Musiversal believes that a model that gives a fixed income to musicians rather than a highly volatile one, is one of the keys to success for global expansion and attracting the best musicians to be available on the platform.
So how does the platform work? Between the studio musician registered on Musiversal and the author who wants to use the platform to record or produce their songs, there is a collaboration in ‘livestream’, which in less than 24 hours results in a recording available for download. The musicians and producers participating in the sessions are part of the marketplace of the platform, which features the best music professionals spread across different countries, from Portugal to the US.