At Mandolin, we’re on a mission to amplify every live music experience for both fans and our partners behind the music—from artists to venues and everything in between. To achieve this mission, we’re thrilled to announce the close of a $12M Series A funding round—co-led by 645 Ventures and Foundry Group, with returning investments from High Alpha and Marc Benioff’s TIME Ventures.
With this new funding, we’ll welcome to the board Nnamdi Okike, Managing Partner and co-founder at 645 Ventures, who shares:
“At 645 Ventures, we believe that exceptional companies will be built coming out of COVID-19 that enable consumers to experience new behaviors. One of these categories is content livestreaming, and one of these companies is Mandolin. Mandolin provides the best technology platform to enable livestreaming for artists, venues and fans, and they’re building a business to serve the needs of this fast-growing category. We’re excited to lead their Series A round.”
Mary Kay Huse, CEO of Mandolin, comments on Okike joining the board:
“I’m thrilled to have Nnamdi join the Mandolin board. His extensive experience in helping early stage SaaS and consumer tech companies reach the next level will be invaluable as we look to supercharge our growth and make Mandolin Live+ a household name.”
This investment builds the future of live music
Despite being named Pollstar’s 2021 “Best Livestreaming Platform,” we’re not resting on our laurels. We’re building unique digital experiences atop the incredible live music our partners bring to fans through the innovation of Mandolin Live+—our mobile-first platform designed to amplify live events in every sense (both in-person and virtually across the globe). Features already available with Mandolin Live+ include Mandolin’s Enhanced Livestream, Digital Festivals, Digital VIP Meet & Greets, Video on Demand, and Fan Insights & Analytics. Here’s a hint of what additional funding has unlocked for the live music community:
Fan experience continues to improve
VIP experiences, reimagined
Fans love joining exclusive experiences with their favorite artists—and the more creative, the better. According to research conducted by UTA IQ, at least 1 in 5 consumers will be more willing to pay for behind-the-scenes and exclusive content from celebrities after the pandemic. Knowing this, we continue to expand our suite of VIP products to let artists reimagine what VIP means to them. From selling access to soundchecks and creative encores to letting fans invite their friends into many-to-many VIP Parties, the possibilities are endless.
Fans go on an adventure
Live music fans crave out of the box experiences, especially after a year of being trapped inside. So we're hyper focused on breaking the mold for what’s possible with live events—and helping our partners reap the benefits. Fans will soon be able to toggle between camera angles, get a 360 degree view of the venue, request songs directly to artists and communicate their reactions via physical hype signals at the venue (like triggering light shows or blowing bubbles from the stage). Some lucky fans will even be able to jump onstage with the band, virtually.
In-person gets the best of both worlds
With Mandolin, fans will build on their favorite parts of in-person concerts and ditch the rest—such as long merch lines or missing friends who couldn’t get in-person tickets. We’re helping venues reward repeat buyers with special perks, allow in-person attendees to invite their squad into the virtual experience for a discount and place orders in-app to skip the merch line.
Allowing fans to become fanatics
UTA IQ reports that 88% of fans plan to continue to attend online events even when in-person gatherings return. With this in mind, Mandolin is building solutions to let fans continue to feed their live music passions with expanded digital experiences. This will include the ability to opt-in to notifications from artists, venues, or show types they like and peruse a robust and searchable library of content they’ll enjoy.
Presenters will prosper and get closer to fans
Data driven tours enhanced by fan insights
This investment will be used to increase the value of insights artists and venues can extract from Mandolin to run a better business. In addition to leveraging insights from our current fan insights & analytics offering to build deeper, more meaningful relationships, presenters will soon be able to understand the most-loved parts of their virtual shows (and even reward those reactions in-person through physical venue changes such as light shows and more).
Thanks to new features within our presenter tools, clients will more accurately forecast ticket sales than ever before—accessing a previously untapped well of predictive data.
Increased discoverability and content monetization to drive fan growth
Self-serve event creation made simple
The highest quality livestream platform is quickly becoming the easiest to use for artists and venues of any size. Mandolin continues to build tools that make self-serve event creation easy—making it possible to add complementary revenue streams to any concert or tour without any professional assistance.
Re-imagine your next show with Mandolin today
The best part of all this? It’s just the beginning. Get in touch via the form below to reimagine your next concert or sponsorship with Mandolin. A member of our Industry Relations team will be more than happy to share what’s possible and build an experience sure to blow your fans away.