Splice in New York is an AI-powered beat-making software service created by the founders of GroupMe for GroupMe for music producers. The company has raised $55 million in new funding.
The software service, also known as GitHub for music producers, is currently used by Hook N Sling, Mr Hudson, SLY, Steve Solomon, and TechCrunch’s Megan Rose Dickey. The reason for the surge in users is that Splice helps electronic dance music (EDM) authors save, share, collaborate, and remix music.
With the company’s growing popularity, Splice has expanded from bedroom DJ tools to the Goldman Sachs boardroom. A financial services giant has joined MUSIC.
MUSIC is a joint venture between music executive Matt Pincus and boutique financial services firm Liontree, leading the company’s latest $55 million round. The company’s previous investors include USV, True Ventures, DFJ Growth and Flybridge.
“The music production process is becoming digital. Artists can create an easy-to-use, collaborative, and affordable music production platform,” said Stephen Kerns, Vice President of Growth at Goldman Sachs.
Splice, with four million users flocking to the solutions he offers, is at the forefront of this transformation and is loved by the creator community. Splice was able to partner with Stephen Kerns and his team. “I’m very happy,” he said in a statement.
Splice’s funding follows the astonishing takeover of the company’s acquisition of music tech companies Audiaire and Superpowered in 2020.
In addition, Splice has Kakul Srivastava, vice president of Adobe Creative Cloud Experience and Engagement, on board.
As mentioned above, shortly before the funding, the company acquired music technology companies Audiaire and Superpowered to improve and energize the audio and music production process. At the same time, the above-mentioned Mr. Kakuru Sri Bastava has been invited.
Steve Maltucci at TechCrunch Disrupt 2016 (Image Credit: Getty Images)
Splice’s balance sheet enhancements are in response to new entrants beginning to compete for part of Splice’s music production market. Hardware maker Native Instruments, which launched the Sounds.com marketplace in 2020, and Arcade by Output offer similar services.
Meanwhile, Splice continues to invest in new technologies to make the producer’s life easier. In November 2019, we announced an artificial intelligence product that uses machine learning to match samples from different genres.
“My job is to inspire the creativity of as many people as possible,” Splice founder and CEO Steve Martocci told TechCrunch.
Just a year after launch, it’s another win for serial entrepreneurs known for selling TechCrunch Disrupt hackathon chat app GroupMe to Skype for $85 million.