Splice, a NYC-based music creation platform provider, raised $57.5m in Series C funding.
The round was led by Union Square Ventures and True Ventures, which were joined by DFJ Growth, Flybridge, and Lerer Hippeau. Liontree, Founders Circle Capital, & Matt Pincus, founder of Songz Publishing.
The company intends to use the funds to improve its existing marketplaces and workflow tools, as well as to explore new ideas.
Founded in 2013 by CEO Steve Martocci and CTO Matt Aimonetti, Splice provides a platform for musicians to create music, connect, and collaborate on it via such tools as a browsable library of samples, rent-to-own plugin plans, and Splice Studio, a free back-up and collaboration product that allows musicians to store, save, and share music project files in the cloud.
In addition to the funding, the company also announced that it has paid $15 million in royalties to music creators who distribute their sounds through its artist-to-artist sample service, Splice Sounds.
The team also includes:
– Ryan Walsh, Chief Product Officer,
– Chris Acquaviva, CFO,
– Kavita Vora, Chief of People Officer, and
– Jonathan Lee, Chief Business Officer.