TuneGO, a data driven music A&R startup has completed a Series B financing totaling more than $7.7 million. Private equity firm Falcon Capital led the round. TuneGO will use the funds to enhance its technology platform and global infrastructure, which is already being used by many leading music and entertainment companies.
The company will also increase the size of its engineering team, invest in user growth and continue to expand into new international markets, particularly in Asia.
"With the explosive growth of the global music market, our investors understand the breadth and scope that TuneGO is capable of reaching, especially with the Big Data we are able to generate. Big Data, which is the new currency in the music industry, both for the independent artist and music executives, drives talent and content decisions by industry insiders and with our unique model, we are leading the way," said John Kohl, co-founder and CEO, TuneGO.
TuneGO, which is free for members, continuously monitors its music platform for new artists with Big Data activity. Artists' activity on the TuneGO platform is collected from multiple online and offline sources, such as social media followers, fan engagement and industry feedback. A strong ranking on TuneGO can provide artists with access to career-boosting benefits including personalized A&R services, radio airplay, sync-licensing, music reviews, access to the world's most accomplished producers and introductions to major music labels.
TuneGo recently launched an exclusive portal for music industry decision makers and influencers. The portal, which aggregates a wide variety of data points that can be customized to meet an influencer's needs, is providing record labels, music supervisors, talent agents and playlist curators a new way to streamline and simplify the discovery of talent and content while at the same time keeping track of artists and music already on their roster.
The industry portal is currently invite only.