Photo Credit: Techivation
Montreal-headquartered musician-collaboration platform BeatConnect has announced a roughly $2.2 million raise that drew support from Triptyq Capital.
Two-year-old BeatConnect just recently unveiled the multimillion-dollar round, which consists specifically of CA$3 million (currently $2.17 million). Montreal’s FICC led this latest investment in BeatConnect, which also counts as backers Anges Québec (self-described as “the largest group of angel investors in Canada”) and the aforesaid Triptyq Capital (which arrived on the scene with $40 million in June).
BeatConnect itself centers on enabling musicians to collaborate remotely, as noted, crafting “music with up to four people in a real-time shared environment” that supports various DAWs and features “a shared sequencer, cloud storage, video chat and more,” per the platform’s website.
A brief video demonstration of BeatConnect shows that users work together via “studios,” each of which saves its invited members and their projects. Consequently, musicians can quickly switch between collaborations and tracks, according to the clip.
Higher-ups intend to use today’s windfall to continue building out the core offerings of BeatConnect, whose co-founder Nicholas Laroche addressed the raise in a statement on LinkedIn.
“It’s been about two and a half years since I scribbled that vague and weird drawing in Balsamiq for the first version of BeatConnect,” penned the Canadian Broadcasting Corporation veteran Laroche, “and it’s already way way beyond what I expected. We have ambitious plans, and this is just the first step into what I truly believe will be a musical revolution centered around Collaboration powered by BeatConnect.”
BeatConnect’s $2.2 million funding round follows a high-profile partnership between SoundCloud and Session, a credits and collaboration platform founded by ABBA’s Björn Ulvaeus. Meanwhile, 2021 brought with it a $7 million round for Roar Studios, which says it’s developing a “music metaverse” for collaboration and creation.
In related news, customer relationship management platform Laylo today announced a “strategic investment” that has upped its total capital raised past the $8 million mark. Eldridge (which in November of 2020 bought The Killers’ publishing catalog) led the round, which also secured participation from POAP’s Patricio Worthalter, Create Music Group’s Jonathan Strauss, HiFi’s Damian Manning, and Method Music’s Sam Evitt.
According to company officials, Laylo counts as “customers” Sam Smith, ODESZA, Kodak Black, Dixie D’Amelio, and The Black Keys, among several other members of the music community. Laylo says that it will put the tranche towards tripling “down on our mission of building the Creator CRM by growing the team, expanding to new verticals and launching new features faster.”