Vampr cracks million user milestone, prepares for Q4 funding round
Australian music tech platform Vampr has hit a record-breaking one million users ahead of its plans for a multi-million-dollar Q4 funding round later this year.
Providing a professional networking service for musicians and other creatives, the platform onboarded over 400,000 new users in the past 12 months and is set to hit 2.8 million users by December 2022 at its current rate of growth.
The platform has facilitated over 6.5 million connections from 190+ countries and has resulted in the creation of more than 222,000 original compositions through in-platform collaborations, the company said.
As well as serving as a networking tool, Vampr also delivers distribution, publishing, education and other digital services to its users.
Vampr’s one million users have collectively achieved a total of 62.5 billion streams and generated estimated royalties of $162 million.
Vampr co-founder and CEO, Josh Simons, said that the platform’s growth was a huge achievement for the LA-based company.
“We are incredibly proud to have hit this momentous milestone, welcoming over one million users to our platform,” Simons, a former TMN 30 Under 30 Readers’ Choice winner, said.
“As we continue to grow our industry-leading platform, we hope to support more creatives and musicians in the community with our innovative marketplace, helping them to connect and collaborate with some of the most influential names in the music industry.”
The rapid growth of Vampr accompanies the startup’s plans for its next funding round in Q4, with the platform aiming to raise a multi-million-dollar figure to continue its upwards trajectory.
Earlier this year, the company successfully raised US$790,000 to take its total investments to $2.6 million, with the funding being injected into the development of its own native livestreaming tool.