Wefuture announced that it has closed a$12.8 million series A round from a UK-based corporate investor. The UK startup will use the funds to transition its Show4Me site from concert crowdfunding platform to a broader "music interaction network."
The redesigned Show4Me will help musicians and music industry professionals manage their music business activities on a single network, grow a fan base and engage them through a "direct-interaction model". For fans, the incentive is lower prices delivered in a more convenient and consolidated way.
"By raising a total amount of $13,5 m within three investment rounds, we are confident in the future and further developments of the network. What we give is a short path to success for talented musicians and bands with increased revenues, lower risks, and monetization right from the start. All the processes involved are significantly simplified and sped up, which frees up more time for creativity," said Karėn Chiftalaryan, Show4me Founder.
Before the official release, the network has reached more than 5000 registered musicians and music business professionals. Musicians can test the network prior to the official launch via www.show4me.com/join.