US-based music tech startup IndieFlow, described as an “Operating System for independent music creators”, has raised $4 million in new funding.
The round was led by State of Mind Ventures, with participation from Oryzn Capital, Or Perry (Co-Founder of StreamElements), 5 Eyes Venture, TechStars, and Moshe Gaon.
IndieFlow was co-founded by Omer Matz, who serves as the company’s CEO, and Elad Pankovski, its Chief Growth Officer.
IndieFlow says that it provides independent musicians with the tools to “organize, manage and grow their music careers efficiently on their own”.
The new funding round will be used to grow its team and accelerate growth.
IndieFlow claims to be a “Shopify for musicians,” that “centralizes all business aspects that a musician has to deal with”.
The platform offers distribution to streaming platforms, collecting payments and royalties, tracking data, scheduling, promoting and managing projects, booking gigs, and collaborations.
IndieFlow was founded in 2020 and the company claims that “thousands of musicians” have signed up to use its platform.
“When we met the IndieFlow Founders we saw the same passion and pure ingredients that we saw when we invested in Stream Elements; Creators looking to find their way in the new digital space, needing tools, support, community and the ability to make money.”
Andy Bellass, State of Mind Ventures
Andy Bellass of State of Mind Ventures, said: “We have been obsessed with the mix of Creator Economy and Marketplace.
“When we met the IndieFlow Founders we saw the same passion and pure ingredients that we saw when we invested in Stream Elements; Creators looking to find their way in the new digital space, needing tools, support, community and the ability to make money.
“We are super excited to lead this seed round and help build another beast of a brand.”
“The content creation industry has undergone a major transformation due to how content is being consumed.”
Elad Pankovski, IndieFlow
Elad Pankovski, Chief Growth Officer at IndieFlow said: “The content creation industry has undergone a major transformation due to how content is being consumed.
“Music is a leading pillar in the content industry with over $50 billion in revenue from streaming and ticketing, but the creators themselves are the last to enjoy these profits.
“While shifts in technological tools have transformed the gaming and video industries, the music industry has been left behind. IndieFlow has an opportunity to upend music creation and this round is a big step forward towards doing so.”Music Business Worldwide