Music Mastermind has raised $10.8 million in Series B funding. Intel Capital and Liberty Global led the round with a combined $6.8 million, while angel investors pitched in an additional $4 million.
Music Mastermind was co-founded in 2007 by Matt Serletic, former Virgin Records Chairman and CEO, and Bo Bazylevsky, former Global Head of Emerging Markets Corporate Trading at J.P. Morgan.
The company plans to launch its music platform later this year. The consumer-focused audio processing platform the company says will allow anyone to create and share music. The cloud-based service will use IBM's Smart Business cloud service.
"Our products fuse together the best elements of music production tools, interactive entertainment, and social engagement, empowering everyone to experience the joy that comes from making and sharing great music," Bazylevsky said in the press release.
For a glimpse at the music creation product, watch this live demonstration from June 2010 on YouTube (below, note the version of the software seen is outdated):
For more information directly from Serletic, watch this interview with him at the S.F. Music Summit via Techcrunch (below) from a few weeks ago, where he said the following:
"There are new ways to connect with an audience. It's important that technology allows that to happen, and then smart people - artists, artist managers, label owners, etc. - figure out ways to make that lasting, make it both intimate and significant."