U.S.-based music application, Breakr has raised USD 4.2 million in a seed funding round led by Slow Ventures. Notably, the latest raise follows USD 700k in funds led by TxO fund- a subsidiary of leading venture capital firm- Andreessen Horowitz- a funding round that most people considered a proof of concept.
One of the main reasons attracting investments to Breakr is its novel offering that connects upcoming musicians with social media influencers. Through this, musicians witness exposure, and influencers are paid to host an office-hours listening session. Breakr receives a 10% cut from the total revenue.
According to Marc Byers, Strategic Advisor at AMP Technologies, Breakr has emerged as an integral way to effectively connect brands, artists, and influencers, as the process otherwise may prove to be highly time-consuming. The company has built a mall of influential marketers where one only has to pick the most suitable talent based on their campaign needs, Marc added.
As per a statement by Breakr, influencers charge artists on a sliding scale, asking for more based on their following. The entity claims that nearly 12,000 users have registered for influencer accounts that are currently being screened by them. Additionally, nearly 3,000 to 4,000 accounts have been approved till now.
Ameer Brown, Inventor and Head of Product at Breakr was quoted stating that the firm has worked with big names in the music industry like Sony and Warner, as well as with small ones such as the SoundCloud rapper, and many in between.
It is worth mentioning that rapper and influencer- Tobe Nwigwe is also one of the many co-founders of the company and has actively been promoting the brand across social media, along with hosting his listening forums.
Speaking about his views on the company, Nwigwe commented that the company serves as the technology medium for artists and influencers to come together. Breakr helps them authentically amplify their talent on the platform.