KIYATEC Announces Investment from Seae Ventures and Names Co-founder and Managing Partner Jason Robart to its Board of Directors
01 May, 2021
– Rapchat, a music creation app, raised $2.3m in funding.
– The round was led by Sony Music Entertainment and NYC VC firm Adjacent.
– The company plans to use the funding to continue expanding the scope of what you can create on its platform, including growing the prize pools for Rapchat’s “Challenges” competition series; expand to have more artists, producers and industry executives on the platform for mentoring; and to extend that platform’s reach to integrate more deeply with the likes of TikTok, Snapchat, Spotify and Apple Music — platforms where creators are already making a lot of content, and where music is figuring strongly in that effort.
– Rapchat is definitely not the only, nor the first, company to think of how to address music creators within the bigger creator economy.