Why Aussie startup Splash just landed $27m in global funding
Australian music tech startup Splash, which gained global attention with its eponymous smash hit game in Roblox, has raised $27 million in Series A funding.
Its aim is now to increase its footprint in the emerging metaverse space.
Splash was founded in 2017 in Brisbane’s Fortitude Valley by A1 engineer Stephen Phillips.
In 2009, Phillips helped set up We Are Hunted which had proprietary search technology which continuously scanned the internet to identify the hottest new music in the world for fans to discover, play and share new music online.
Four years later it was bought out by Twitter as part of its move into music, and Phillips spent time in San Francisco as part of Twitter Music until returning to Brisbane.
On Splash, the mostly tween and teenage players learn to play virtual A1 piano, bass and drums, and then enter a virtual club (which they can help design) and sign up to perform.
They get 60 seconds to slam, and become the most famous and get the most coin.
“So it’s a live experience, and from that the kids learn to make music and they get the thrill of performing live on stage,” explained Phillips.
Since launching in May last year, Splash has amassed more than 130 million plays and now averages 10 million plays a month.
Over 5.4 million have performed on stage and 7.8 million have made music in Splash.
1.5 million have performed more than 10 times on stage. A core group of obsessed DJs have performed over 10,000 times on stage.
It create its own stars. The best known, Kai, a 16-year-old New York-based game developer and musician, generated 1.7 million views for her June 2021 ‘Breathe Again’ video.
“We are on track to one day host the world’s must-attend virtual performances,” said Phillips.
“We are growing a team of musicians, technology professionals, gamers, and creatives who have joined our mission to find new and inventive ways to inspire the next generation of musicians.”
Splash star Kai
The funding round was led by Amazon’s Alexa Fund and BITKRAFT Ventures with Australian venture investors King River Capital and Khosla Ventures.
Amazon Alexa Fund director Paul Bernard explained why they were drawn to the startup.
“Splash intersects the increasing use of artificial intelligence in new media generation with a next-gen game that enables people to express themselves beyond the constraints of social media,” he noted.
According to Carlos Pereira, a director of San Francisco-based BITKRAFT Ventures which has an active stake in Fortnite creator Epic Games, Splash will open doors for new creators.
“Through the advent of synthetic reality, we expect the intersection to grow,” he said.
“More time spent in in-game environments means there is an increased opportunity to discover and share the music that connects us to our favourite games and to each other.
“As the creator economy expands beyond pictures and videos, we view Splash as a platform that opens doors for a new class of creators and enthusiasts who are making and sharing music with their communities and paving the way for a more immersive form of entertainment in virtual worlds.”
Phillips added: “We are thrilled to have incredible investors in our corner who believe in our mission to launch the next generation of superstars and become the place where millions of people perform live daily.”
The funds will go towards becoming embedded in new metaverse platforms, offering more A1 musical instruments and venues, increasing the team from 38 to 50, and setting up key partnerships in gaming, entertainment and music.