Mandolin has worked to transform the way music is consumed by fans since it was founded just over a year ago, powering over 1500 livestream shows while artists and fans were stuck at home during the pandemic. Although in-person concerts are making a comeback in the US, Mandolin has shown that it doesn’t expect livestreaming — or its product — to go anywhere anytime soon.
The company just announced that it has closed its Series A funding round with $12 million in funding, following its initial seed funding of $5 million last October. The round was co-led by 645 Ventures and Foundry Group.
“We believe COVID-19 has accelerated the transition to a world where all in-person events are expected to be digitally simulcast,” said Ryan McIntyre, partner at Foundry Group, in a statement.
Last month, Mandolin released a new streaming platform, Live+, which is specifically designed to support the hybrid future of events. Live+ “takes the beauty of a live show and amplifies it through digital experiences,” according to Mandolin CEO Mary Kay Huse. The has company also signed exclusive deals to livestream four in-person festivals this summer.
The platform aims to enhance the live event experience not only for fans, but for artists and venues as well. It includes a number of interesting new features, including on demand replays of shows and mobile merch purchasing. It also introduces mobile fan participation, which allows audience members to vote on the setlist and encores in artist-created polls on the Mandolin app.
Through the app, fans can also chat with a community of other fans, whether they’re physically in the venue or watching remotely. Artists and venues, on the other hand, will benefit from increased insights into fan behavior and preferences offered by Live+ to improve promotional strategies.
It’s almost inevitable that livestream numbers will be down as live shows return, but Mandolin provides a number of features that will likely be valued by the in-person audience as well. On-demand replays, for example, will allow fans to re-watch parts of the concert without having to record it on their phones during the show. That said, low-quality phone recordings provide unique memories and are part of the fun of going to live shows.
Following Mandolin’s most recent funding round, Nnamdi Okike, Managing Partner and Co-founder at 645 Ventures, will be joining the company’s board. In a statement, Huse noted that she has big plans for the company’s future: “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.”