Reverb.com, a Chicago, IL-based online marketplace for new and used musical instruments, closed $25m Series B funding round.
The round was led by Summit Partners. In conjunction with the funding, Andrew Collins of Summit Partners joined Reverb’s board of directors.
The company intends to use the funds for international expansion, branding and continued technical innovation.
Led by founder and CEO David Kalt, Reverb.com is a consumer marketplace for musicians to buy and sell gear. Comprised of a website and two mobile apps (iOS and Android), the platform gives users the tools to create product listings, browse new and used gear, and compare a set of historical pricing and sales data. It also serves as a platform for education and musical exploration, hosting a wealth of content that includes product reviews, demo videos, gear histories, and artist interviews.
Launched in 2013, the company is on pace to process more than $120 million in transactions in 2015.
Earlier investors include Lean Startup pioneer Eric Ries, Rick Nielsen of Cheap Trick, and country music superstar Brad Paisley.
FinSMEs
04/12/2015