Total amount raised
$159.7 Millions
Latest funding date
2/1/2021
Location
Splice has successfully raised significant funding through multiple rounds, with its latest being a Series D. The platform offers a comprehensive suite of tools for music creators, including a vast library of royalty-free sounds and advanced AI technology.
Keep reading to explore the intricacies of Splice's fundraising journey and the investors backing this innovative platform.
What Is Splice?
Splice, founded in 2013 by Matt Aimonetti and Steve Martocci, is headquartered in New York, New York. The platform is designed to support music creators with a vast library of royalty-free sounds, FX, MIDI, and presets. With a team of 101-250 employees, Splice also offers tools like Create mode, a desktop app for seamless DAW integration, and a mobile app for on-the-go inspiration.
How Much Funding Has Splice Raised?
- Seed Round
- Amount Raised: $2.8M
- Date: October 2013
- Lead Investors: Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch the platform and develop initial features.
- Series A
- Amount Raised: $4.5M
- Date: September 2014
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the sound library and enhance platform capabilities.
- Series A
- Amount Raised: $5M
- Date: October 2016
- Lead Investors: Flybridge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve user experience.
- Series B
- Amount Raised: $35M
- Date: December 2017
- Lead Investors: DFJ Growth, True Ventures, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To integrate advanced AI technology and expand the team.
- Series C
- Amount Raised: $57.5M
- Date: March 2019
- Lead Investors: True Ventures, Union Square Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and enter new markets.
- Series D
- Amount Raised: $55M
- Date: February 2021
- Lead Investors: GS Growth
- Valuation at Round: $500M
- Motivation Behind the Round: To expand operations and integrate recent acquisitions.
Total Amount Raised: $159.8M. Current Valuation: $500M.
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
- Union Square Ventures
- Details: Union Square Ventures (USV) is a venture capital firm based in New York City. It focuses on early-stage, growth-stage, and later-stage investments in the internet and mobile sectors.
- Investment Focus Areas: Internet services, mobile, web-based applications.
- Notable Investments: Twitter, Etsy, Tumblr.
- True Ventures
- Details: True Ventures is a venture capital firm that invests in early-stage technology startups. The firm is known for its hands-on approach and strong support for entrepreneurs.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Fitbit, Peloton, Ring.
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that focuses on investing in growth-stage technology companies. It is part of the Draper Fisher Jurvetson network.
- Investment Focus Areas: Technology, growth-stage companies.
- Notable Investments: SpaceX, Tesla, Box.
- Flybridge
- Details: Flybridge is a venture capital firm that invests in early-stage technology companies. The firm has a strong focus on supporting innovative startups.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: MongoDB, Firebase, Codecademy.
What's Next for Splice?
Splice is poised to capitalize on the growing demand for AI-driven music production tools and collaborative platforms. With a recent $55 million funding round, the company plans to expand its operations, enhance Splice Studio's features, and explore new markets. The involvement of high-profile investors like Goldman Sachs underscores the significant market opportunities ahead.
Future fundraising seems promising, given Splice's strong market position and the increasing integration of technology in music creation. However, the company will need to navigate challenges such as competition from other platforms and the rapid pace of technological advancements. Ensuring data security and smoothly integrating acquired companies will also be crucial for sustained growth.
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