Mandolin, the tech-focused digital fan engagement company, has closed a $12M Series A funding round, co-led by 645 Ventures and Foundry Group, with returning investments from High Alpha and Marc Benioff’s TIME Ventures as well.
As the US reaches an inflection point, and live events return in full force, the investments serve as a major VC endorsement of music livestreaming as a permanent solution born out of the pandemic and reinforced by the industry’s (and fans’) willingness to embrace the change in engagement - and an endorsement of Mandolin as the player to capture this meaningful sector of the $30B+ live music industry.
Nnamdi Okike, Managing Partner and Co-founder at 645 Ventures, will also be joining Mandolin’s board. He said of the partnership:
“At 645 Ventures, we believe that exceptional companies are being built that enable consumers to experience new behaviors that were accelerated during COVID-19. One of these categories is content livestreaming, and one of these companies is Mandolin. Mandolin provides the best technology platform to enable livestreaming for artists, venues and fans, and they’re building a business to serve the needs of this fast-growing category. We’re excited to lead their Series A round.”
Mary Kay Huse, CEO of Mandolin, said:
“I’m thrilled to have Nnamdi join the Mandolin board. His extensive experience in helping early stage SaaS and consumer tech companies reach the next level will be invaluable as we look to supercharge our growth and make Mandolin Live+ a household name.”
Mandolin helps artists and venues create connections with fans and prosper through The music they produce.