The round was led by Sony Innovation Fund, microphone manufacturer Shure, state-owned financing corporation Investissement Québec and Fonds de solidarité FTQ, with investments from Warner Music, Plus Eight Equity Partners, Slaight Communications, YUL Ventures and PEAK Capital Partners.
“Having the support of established music companies like Sony, Shure and Warner as well as music industry investors such as Plus Eight and Slaight is a vote of confidence, and marks the start of a new chapter for LANDR,” said CEO Pascal Pilon. “This Series B will allow us to take our knowledge and expertise in music technology to new market shifting directions.”
The cash is coming via a $7 million convertible note from Investissement Québec and other investors, along with $19 million of equity from group of investors.
Landr offers a cloud-based, AI-powered mastering dashboard, using data from over 10 million tracks. The platform analyzes songs’ styles to create sets of audio post-production processors. A suite of collaboration tools lets artists share tracks, leave comments, and access tracks from the cloud, and Landr’s distribution program enables them to publish to major platforms like Spotify and Apple Music without giving up a cut of their earnings, wrote Venturebeat.
One of Landr’s more high-profile artists is A$AP Ant, who notched over 9.1 million steams on Spotify and Apple Music.
Landr says it will use the money to accelerate its growth and expand into new markets. New products and innovation will also be a key area of focus, such as new features to the platform.
Since launching in 2014, LANDR claims it has “revolutionized the music-making process,” and made studio quality sound more accessible for musicians and audio professionals of all levels. It recently crossed the 2.5 million artist milestone, mastering, releasing and promoting over 12 million tracks for artists in 160 countries around the world. The company releases thousands of tracks weekly on platforms like Spotify, Apple Music and Amazon Music.
“We are proud to support LANDR, a leader in the audio mastering sector, in order to give it the flexibility to develop the functionalities of its platform, seize expansion opportunities and consolidate its positioning in the market, both in Québec and abroad,” said Guy LeBlanc, CEO at Investissement Québec.