BEATBREAD SECURES $34M TO DRIVE ARTIST EMPOWERMENT AND ACCESS TO CAPITAL

BEATBREAD SECURES $34M TO DRIVE ARTIST EMPOWERMENT AND ACCESS TO CAPITAL

BEATBREAD SECURES $34M IN INVESTMENT TO DRIVE ARTIST EMPOWERMENT AND ACCESS TO CAPITAL

Music funding platform beatBread closes new round of funding, led by Deciens Capital

LOS ANGELES, Feb. 9, 2022 /PRNewswire/ — beatBread (www.beatBread.com), the pioneering music funding platform that enables artists to access growth capital while maintaining control of their careers and ownership of their music, has completed a seed round led by Deciens Capital, extending beatBread’s fundraising to date to over $34 million.

Fintech-focused venture capital firm, Deciens Capital, was joined by existing and new investors, including Afore Capital, Angel Ventures, IAG Capital Partners, Mucker Capital, Pandeavor Ventures, Octane Lending CEO Jason Guss, Pier Capital, and Westrie Capital.

“We are excited to team up with Deciens and other experienced investors to continue to grow and offer more access to flexible capital to more artists,” said beatBread CEO Peter Sinclair. “This investment will allow us to expand our feature set and will extend the already large capital pool in beatBread’s invite-only Investor Network. In the legacy music industry, artists were forced to sacrifice control of their career and their masters to access growth capital. Our mission is to enable artists to access capital on their own terms.”

Ishan Sachdev, partner at Deciens, noted, “beatBread’s next-generation, data-driven platform presents tremendous commercial opportunity because it provides fast, customizable, and transparent funding choices to artists. We look forward to partnering with Co-Founders Peter Sinclair, John Haller, and the impressive beatBread team as the company continues to accelerate and serve its rapidly expanding client list.”

Since its launch in November 2020, beatBread has made more than 300 advances to artists and labels across multiple genres, six continents, and a broad range of career stages. Advances offered through beatBread range from as little as $1,000 to as much as $2 million per artist. Artists receive funding in exchange for a limited share of existing catalog revenues, with options also available for advances against unreleased music.

All advances are repaid from a share of an artist’s streaming and airplay revenues, over a period of the artist’s choosing. Advance agreements leave touring, publishing, synch, and merchandise revenue streams untouched, and do not place any restrictions around how funds are used, thus leaving the choice of marketing and distribution partner in the artist’s own hands.

For more details, contact:
Dylan Jones
Boldsquare
Tel: 718-687-8994
Email: [email protected]

About beatBread
beatBread is a pioneering music and finance company that empowers artists to take control of their careers without giving away ownership of their music or their decision-making power. Founded in 2020, beatBread brings together a team with deep experience in music, finance, artificial intelligence and machine learning to create new opportunities for artists and their managers. beatBread provides independent and unsigned artists with financial advances that are repaid through a limited share of revenues from streaming and airplay, over a period of the artist’s choosing. beatBread’s funding platform leverages its proprietary chordCashAI technology, and millions of dollars from beatBread’s Investor Network and institutional funds to provide advances that let artists control their advance terms, marketing and distribution partners, and maintain ownership of their underlying IP. beatBread also offers the chordCashAI platform and a full white label solution to many of the world’s leading independent labels and distributors, including UnitedMasters, Symphonic, Too Lost, and many others. beatBread is headquartered in Utah with offices in Los Angeles, Miami, and New York. For more details, visit www.beatbread.com.

About Deciens Capital
Deciens is a venture capital firm that supports early-stage founders building the next generation of financial services. Founded in 2017 by Dan Kimerling, Deciens exclusively focuses on leading investments in companies of consequence across industries and geographies. The firm supports entrepreneurs leading the digital transformation of long-standing institutions by collaborating with companies like Chipper Cash, the largest African fintech, Treasury Prime, the leading banking as a service company, and Therma, which helps measure, monitor, and protect climate sensitive supply chains around the world. For more information, visit deciens.com.

-beatBread

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