Set.fm, an Austin, TX-based developer of a free app for musicians, raised $1.2m in seed funding.
The round was led by Golden Venture Partners.
Led by Matt Peterson, CEO, Set.fm has just launched to help working musicians capture, promote, and sell recordings of their live performances via a DIY audio-recording platform available on iOS or desktop.
Artists can set a price for their live set (typically from $5-20) and then make the recording available for sale. Immediately after the concert, fans can download the recording from the Set.fm iOS app or from the website and visit the artist pages to share thoughts and discuss about a concert.
It currently showcases live performances from The Olms (featuring Pete Yorn and J.D. King), Joseph Arthur and Jake Shimabukuro.