Company Now Valued at $550M, Fueled by Company Growth, Cross-Industry Demand, Acceleration of Tech-Enabled Disruption & Global Expansion of the Independent Creator Economy
BROOKLYN, N.Y., Oct. 28, 2021 /PRNewswire/ — UnitedMasters, the “record label in your pocket” for independent artists, has closed a $50M Series C at a $550M valuation to further support and empower independent artists they work with to find commercial success in the creator economy. The investment is led by Andreessen Horowitz (a16z), who previously invested alongside Apple earlier this year, to further scale the company, pursuing opportunities, partnerships, and acquisitions on behalf of the 1.3M independent artists on the UnitedMasters platform.
UnitedMasters is the full-service technology platform for independent artists looking to find creative and commercial success while maintaining full control of their music and financial future. UnitedMasters gives creators access to premium music distribution services, a suite of tools to help directly connect with their fans, and opportunities to connect with the world’s biggest brands through partnerships with the NBA, ESPN, TikTok, Twitch, and more.
The investment fuels UnitedMasters’ mission to enable artists to maintain full ownership over their careers while providing access to economic opportunity and millions of new fans worldwide through streaming, licensing, and brand partnership opportunities. The new capital will also be used to develop technology that allows artists to work and create deals directly with platforms and brand partners, frictionlessly and at scale.
“Every day we ask ourselves what more we can be doing to support our artists in finding success in a creator economy that often leaves the actual creators behind. Alongside our partners at a16z, we are going to double down on this mission, empowering artists to create and earn through reach, technology, and partnerships,” said Steve Stoute, Founder, and CEO of UnitedMasters.
“UnitedMasters’s impressive growth over the last year underscores that Steve and the team not only understand what the future of the music business looks like but also how to meet the demands of both independent artists and fans simultaneously,” said David George, General Partner at Andreessen Horowitz. “We’re thrilled to continue this partnership alongside UnitedMasters as they empower artists with the tools and opportunities they need to find success.”
The investment comes off of the heels of several newly announced UnitedMasters partnerships that support artists looking to be in full control of their music and earnings including a partnership with Coinbase that allows artists to be paid in crypto, a mastering product with Dolby that allows artists to spend just $5 on professional quality audio and finishing and financial tools products.