BandLab Technologies, the trailblazing Singapore-based powerhouse behind the popular social music creation platform, BandLab, has raised a significant funding coup.
The company has soared to new heights, raising $25 million in a Series B1 funding led by Cercano Management, with participation from Prosus Ventures, propelling its post-money valuation to an astounding $425 million.
This latest funding round follows BandLab Technologies' previous Series B funding of $65 million, which was secured at a post-money valuation of $315 million and announced in April 2022.
Led by visionary founder Meng Kuok, BandLab is behind the music creation platform of the same name, which has a community of over 60 million registered users. The company’s ecosystem also includes digital audio workstation Cakewalk, artist services platform ReverbNation, and beat marketplace Airbit.
Strategic acquisitions like the 49% stake purchase in the prestigious American magazine, Rolling Stone - valued at $40 million in 2016, have helped the comoany to make a name for itself. Other acquisitions including that of revered British publications NME and Uncut, have also helped it to expand its influence in the media landscape.
Now valued at a remarkable $425 million following this latest investment, BandLab has set its sights on expanding its team globally, enhancing its music creation tools and spearheading emerging initiatives like BandLab for Education with the funding.