RootMusic, the developer of BandPage a leading Facebook marketing platform for artists, has announced a Series B funding round of $16 million. The round was led by GGV Capital with new investor Northgate Capital and existing investor Mohr Davidow Ventures.
The money will help RootMusic expand and hire more engineers and build out its product, BandPage, CEO J Sider tells Billboard.biz. "BandPage is a good first step of what we're really looking to do. Now with the extra support, we're going to continue doing that in a bigger way." The San Francisco-based company, launched in March 2010, now has 20 employees.
Used by over 250,000 artists, BandPage is available as both a free service and a feature-rich premium service for $1.99 per month. With over 30 million monthly active users, BandPage is the leading music app on Facebook. "Clearly you look at the numbers and you see how people ere interacting and how engaged people are on that platform," says Sider. "Music is something people really identify with and love to share that experience with friends."
This latest round of funding emphasizes the role Facebook plays in marketing today. From ReverbNation to Bandsintown, there are numerous marketing applications for the platform. Services such as Moontoast Impulse, Nimbit' MyStore and FanBridge's Damntheradio focus on Facebook for direct-to-consumer commerce. And outside of music there's Buddy Media, a brand-focused Facebook marketing platform that two weeks ago raised $54 million in a Series D round led by RootMusic investor GGV Capital.
RootMusic announced its Series A funding of $2.3 million from Mohr Davidow Ventures back in January. It received an angel investment from Larry Marcus, an early investor in Pandora and SoundHound with Walden Venture Capital.