Splice crosses $500 million valuation after raising $55 million
Splice is a cloud-based music creation and collaboration platform that was founded in 2013 by Matt Aimontetti and Steve Martocci. One of the main benefits of Splice is that it streamlines the fragmented process of creating and sharing music, and allows access to millions of royalty-free samples, plug-in presets, and DAWs’ full project files without having to share any profits from a song with the sample creator. Over 4 million people currently use the platform, and the number of daily downloads exceeds one million! In 2017 Splice raised $35 million in round B of funding from Draper Fisher Jurvetson, in March 2019 Goldman Sachs Growth put up $57.5 million for Splice in round C, which has just been boosted by another sky-high sum backed by investment company MUSIC and once more Goldman Sachs. This year’s investment is $55 million, and thanks to that now Splice’s valuation crossed the $500 million mark.
In an official statement, Splice CEO Steve Martocci says the fund will help the company continue to grow:
We’ve got a big year ahead of us, and this investment will propel Splice’s vision to provide the essential content, tools, and inspiration that audio creatives are looking for; we look forward to working closely with our new partners.
Considering the platform’s growth rate, Splice’s valuation can be as high as $1.5 billion by the end of 2027. The platform is one of the leaders in the music tools market, widely used by hundreds of the biggest names in electronic dance music & hip-hop. You can discover sample packs from artists like KSHMR, josh pan, Virtual Riot, Modestep, Sander Van Doorn, MURDA BEATZ, and Mat Zo on the platform.
Photo credits: Splice Facebook Page