Online Studio Soundation Raises $500K, Appoints New CEO
Online recording studio Soundation is relaunching with the help of $5000,000 in funding, a new CEO and a mission to build the world’s premier launchpad for new producers. Soundation has over 75,000 active users monthly.
Soundation is now re-focused on becoming a starting point for new producers with big ambitions. The online service says its easy to learn and yet closely related to more advanced programs, which facilitates subsequent advances to professional levels.
Interest in music production is rising, with the “casual users” market expected to grow from $900 million in 2017 to $1.45 billion by 2021. Launched in 2009, Soundation currently has over 75,000 active monthly users, primarily in the US. Now the company is expanding, with new funding and and a new CEO, Swedish tech entrepreneur Adam Hasslert.
"Soundation has an amazing legacy that we look forward to building on by elevating the user experience and brand to the next level and taking advantage of its full potential. We are driven by enabling music creation for more people around the world. With the interest in music production increasing significantly, we see great potential", says Hasslert.