CA-based EngineEars secures $7.5million in seed funding. Drive Capital, a venture capital firm, led the round. Slauson & Co., 645 Ventures, and FLUS Investment Group also participated.
The venture division of SALxCO, co-founders of the Atlanta-based record label LVRN, Russ, Tunde Balogun, & Sean Famoso; Kendrick Lamar; Ghazi of EMPIRE; AlexDaKid; Roddy Ricch; Mustard; YG; DJ Khaled.
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The money will be used by the business to expand operations and development initiatives. EngineEars, a company founded by audio engineer Derek “MixedByAli” Ali and chief technology officer Luke Sorenson, provides software solutions to streamline business management and music collaboration processes between recording artists, audio engineers, record labels, and now recording studios. This allows artists to work on a single platform from start to finish.
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About EngineEars
EngineEars is a vertical Software as a Service (SaaS) web platform designed to give the music industry the tools it needs to do business more effectively and more fairly.
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By using their platform, they are able to access the $74 billion music production and distribution sector, which is expanding at an impressive rate—120,000 songs are currently released on Spotify every day, an increase of more than 30% year over year. The core of this business, the musicians, continue to use ineffective procedures and disjointed equipment despite the sector’s expansion.
