IndieGoGo Raises $1.5M For Fan Funding
Dealing with major labels and publishers may be scaring many investors away from music tech. But for those startups that don't need to license music, angel and venture capital dollars are continuing to flow freely. During August more than $39 million dollars was invested in music startups; and today artist fan funding site IndieGoGo announced it had raised $1.5 million to expand it's Kickstarter-like platform.
Metamorphic Ventures led the round, along with Zynga VP and co-founder Steve Schoettler.
IndieGogo, founded in 2008, told AllThingsD that its users have raised “raised millions of dollars” for 40,000 campaigns. A major portion of that was for Fractured Atlas, a national organization which supports performing and visual artists that's raised over $1 million in funding since their partnership with IndieGoGo began in 2010.