Splice, a New York-based provider of an AI-powered beat-making software platform for music producers, raised $55m in funding.
Backers included Goldman Sachs and MUSIC, a joint venture between music executive Matt Pincus and Liontree. In addition to the funding, Kakul Srivastava, the vice president of Adobe Creative Cloud Experience and Engagement, joined Splice’s board.
The company intends to use the funds to continue to expand operations and its business reach.
Led by CEO Steve Martocci, Splice provides Splice Studio, which allows producers to collaborate with friends around the world while also backing up their music projects using free and unlimited storage. The latest version of the software syncs every project save with the Splice Cloud and offers advanced features that allow users and collaborators to view and comment music projects right from the timeline, making sure that everyone involved is kept in sync with the very latest notes and project revisions. Everything is available right from a browser or mobile device.
The financing follows the 2020 acquisitions ot music technology companies Audiaire and Superpowered.