COLUMBUS, Ohio, April 30, 2021 /PRNewswire-PRWeb/ -- Rapchat, a leading music-making app that helps rappers and hip-hop artists get discovered, today announced a $2.3M funding round led by venture capital firm Adjacent. With the original $1.7M in seed funding, this round extends the startup's initial total to $4M in venture capital. Rapchat will use the new capital to invest in key hires across engineering, product, and marketing.
By selecting from Rapchat's catalog of over 100,000 beats, recording vocals and applying editing tools like effects, and mastering over 250,000 original tracks are created on the platform every month. Songs are then shared within the Rapchat community, privately between artists, or publicly on major social platforms.
"Rapchat has created a music studio that fits into your pocket," said Nico Wittenborn, lead Investor at venture capital firm Adjacent. "It decreases the friction of creativity by allowing anyone, anywhere in the world to record and publish music straight from their phones. This mobile-enabled democratization of technology is what Adjacent is all about, and I am super excited to support the team in building out this next-level music platform."
In addition to making it easy for anyone to create and share music on their phones, Rapchat is dedicated to helping artists get discovered. The platform plans to deploy self-distribution features that will empower users to publish their songs onto popular streaming platforms like Spotify and Apple Music, increase the prize pools for Rapchat's popular competition series 'Challenges,' and onboard established artists, producers, and industry executives to help mentor users.
"Helping users make music has always been our priority, but in today's noisy content landscape, Rapchat will be committed to taking that experience to the next level," said Seth Miller, CEO of Rapchat. "We're going to share our spotlight with our brightest users and help them get discovered. If you're taking hip-hop and music seriously, Rapchat is the place for you."
For more information on Rapchat including a personalized tour with the product team, please reach the media contact above or visit: http://www.rapchat.com. For careers opportunities, visit: https://careers.rapchat.com/
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About Rapchat:
With millions of rappers creating over 250,000 tracks per month, Rapchat makes it easy for anyone, anywhere to create music on their phone. Users select from thousands of beats, record vocals, and apply editing tools like voice effects and mastering to create high-quality songs. Completed tracks can be shared privately among friends, with the broader Rapchat community, or pushed to other social channels like Instagram and TikTok. The Rapchat Community helps aspiring artists elevate their skills and build a following through feedback forums, organic collaborations, and regular competitions. The free-to-use app will soon offer premium subscribers additional studio-quality tools and empower them to monetize their content by publishing directly on various music streaming platforms. The company was founded in 2015 by Seth Miller, graduated the 500 Startups accelerator in 2018 and just recently launched the core studio product. Rapchat has raised $4M from top investors and hosts a 10-member distributed team.
Media Contact
Gabriel del Rio, GdR PR, 3105008972, [email protected]
SOURCE Rapchat
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