Muso plots expansion into U.K., NZ after raising $2M in seed-plus round
Muso will play its tune a little louder — and across borders — after the live entertainment start-up closed a $2 million seed-plus raise.
With that cash injection, Muso plans to launch its business in the U.K. and NZ later this year, and strengthen its local venue portfolio, which includes hospitality groups Sandhill Road, Solotel, Funlab, The Sydney Collective, Oscars, KickOn Group, and Australian Venue Co.
Founded in 2018 by Jeremiah Siemianow, Brandon Crimmins and Alan Jin, Muso began life as an online marketplace for emerging musicians to find live gigs and to help venues recruit new talent.
The following year, Muso raised $1.5 million in a seed funding round.
Today, that Australian business has lifted its game into a comprehensive entertainment management platform, which has been used to coordinate upwards of 10,000 shows for 5,000 artists in more than 500 venues, reps say.
During the past year, its customer base is said to have grown more than tenfold, and reported 70-80% month-on-month growth when restrictions were eased earlier this year.
Siemianow expects business to boom once restrictions are eased across the country.
“While things obviously slow during lockdowns,” he comments, “the appetite from venues, performers and the public for regular live entertainment continues to remain high”.
The round was led by Rampersand and a syndicate headed-up by Athena Home Loans Co-Founder Michael Starkey. Alberts Impact Capital, Flying Fox VC (whose Muso’s investors included Who Gives A Crap’s Simon Griffiths) and hospitality group Sand Hill Road (owners of The Espy in Melbourne) were also involved.
Fifth generation Alberts
Plans are to raise a larger, international series A next year, which, along with a recent recruitment drive, should help the business scale quickly, reps say.
As part of its growth ambitions, Muso recently brought on board ex-MYOB Chief Technology Officer Simon Raik-Allen as Chief Technology Officer; “cloud guru” and Etsy alumni Aaron Moodie as Principal Product Designer; Eventbrite Australia’s first employee Kelly Burge as Customer Success Manager; and ex-Facebook Developer / Lead Engineer at Latitude Finance, Misha Moroshko as Principal Front End Engineer.
“With the world starting to open up again, including Australia,” a Muso spokesperson says, “it’s an exciting time.”
This article originally appeared on The Industry Observer, which is now part of The Music Network.