Music Tech

Chirpify Finalizes $6 Million Series A Round, Teases Upcoming Live Event and TV Offerings

Detail-nirvana-nevermindChirpify handles in-stream payments on Facebook, Twitter and Instagram for
everyone from indie musicians to big brands to the ever present Snoop
Lion. Today they announced an additional $4 million in funding to complete a Series A round of $6 million. They're also teasing upcoming "offerings…to enable live event and TV conversions."

Today's announcement from Chirpify features the completion of their Series A round of $6 million with the following investors:

"New investors include Saturn Partners, Provenance Ventures, 'the hoops whisperer' Idan Ravin who has trained NBA stars like Carmelo Anthony, Chris Paul, Dwight Howard and Kevin Durant, former Interscope Geffen A&M Vice Chairman David Cohen, and more. They join previously announced investor Voyager Capital, which contributed $2 million to the series A."

Guess they won't be complaining about the Series A crunch. This brings their funding total to $7.3 million:

"Voyager Capital, angel investors Geoff Entress, BuddyTV CEO Andy Liu, former Facebook executive Rudy Gadre, HootSuite CEO Ryan Holmes, and TiE Oregon Angels invested in the company's seed round, and some re-invested in this series A round."

So what do you do with all that money besides popping bottles and swimming in a rooftop pool filled with hundred dollar bills? A few clues to what's next were included in the announcement:

"Chirpify intends to use the new capital to extend the applications of the company's social commerce platform into new markets and new cross-channel promotions. The company's new offerings—which will be available in the next few months—will leverage its proven technology to enable live event and TV conversions."

In addition a canned quote from Saturn Partners General Partner Bob Chicoski supported possiblities beyond Twitter, Facebook and Instagram:

"Chirpify has shattered the 'traditional' engagement rates on social media by creating posts that are actionable…The same technology can have a similar impact on the way people make transactions in real-world settings."

That could mean a variety of things. VP of Business Development (Music and Entertainment) Rory Felton would only respond to my Twitter direct messages with cryptic comments like:

"There's a lot more coming down the line :)"

He also pointed to their involvement with MasterCard's Dig In & Do Good campaign but that felt like a head fake, to be perfectly frank. Guess we'll just have to wait and see what's next.

[Thumbnail image detail from cover of Nirvana's Nevermind.]


Hypebot Senior Contributor Clyde Smith (@fluxresearch/@crowdfundingm) also blogs at Flux Research and Crowdfunding For Musicians. To suggest topics for Hypebot, contact: clyde(at)fluxresearch(dot)com.

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