Slip.stream, an up and coming music startup, has reportedly closed a $7.5 million Series A funding round that saw participation from investors such as by Sony Music Entertainment, Lightshed Ventures, and Third Prime.
Slip.stream, which offers royalty-free music and sound SFX, stated that it will be working with Sony Music to delve into new ‘premium music opportunities’ for its artists within the startup’s platform.
The startup calls itself a ‘creator safe’ music platform that was launched by Dan Demole, music publishing firm Jingle Punk founder; Jesse Korwin, Jingle Punk CMO; and David Carson, the founder of New Stand, Heavy, and Fuse TV.
The platform provides a library of 50,000 tracks and 40,000 sound effects that are safe from copyright strike and is filled with what Slip.stream calls ‘real music from real artists’.
Along with the funding, the startup also added Faze Blaze, from esports and entertainment group, FaZe Clan; and Anthony Pisano, from talent management agency, Gameover Talent to the company’s advisory board. Both Faze and Anthony would be joining a board that currently counts prominent industry figures such as T-Pain among its members.
With the new capital, the startup will be accelerating its goal to become the go-to platform for streamers and creators when they need music for their content.
It will also work on the platform’s development, add new content partnerships, increase hiring, as well as strengthen its catalog by adding more musicians to the platform.
With the latest investment round, including its previous seed round of $3.25 million last year, the startup has raised $10.75 million in total.
The startup also plans to introduce a new service for musicians so their music will be available to the platform’s creator user-base in the future, which is currently in beta mode and is invite-only on its website.
Dennis Kooker, President of Global Digital Business, Sony Music Entertainment, stated that the company supports Slip.stream’s goal to create ways for music artists and the entire creator community to work together and provide new recurring revenue streams, and expand their reach as well.
David Carson, Co-CEO of Slip.stream, stated that the startup will be able to explore new partnerships and add more exclusive music content to offer its users a great experience.