Market Overview

Audio Tech Company Backed By Pharrell Williams, Rick Rubin Raises $10.7M

Audio Tech Company Backed By Pharrell Williams, Rick Rubin Raises $10.7M

The real-time audio platform Mixhalo announced a $10.7-million Series A financing round Tuesday led by Foundry Group.

What Happened

The platform is a result of musicians wanting to give every fan in a venue the same sound the players hear through in-ear monitors, according to Mixhalo. The company has expanded its platform to serve concerts, conferences, festivals and sporting events.

Mixhalo’s seed funders and advisors include industry names such as Pharrell Williams, Metallica and Rick Rubin.

In addition to Foundry Group, the Series A round participants include the institutional investors Sapphire Sport, Founders Fund, Defy Partners and Cowboy Ventures.

Entertainment industry participants include Red Light Management, Another Planet Entertainment, Rick Farman and Rich Goodstone of Superfly and Charlie Walker of C3.

Why It's Important

Mixhalo’s technology provides a real-time audio experience delivered directly to attendees' phones and headphones without relying on the venue’s Wi-Fi or cell network.

Mixhalo creates its own wireless channel at an event from which high-fidelity sound can travel directly from an event’s sound mixer or PA system to an audience member's ears. 

The company said it has raised $15 million to-date.

What’s Next

The company said its technology gives every seat at a venue access to better, more immersive audio, "transforming the live event experience." 

“Mixhalo is transforming the stage from an untapped resource into the most intimate, premium concert experience on the planet,” said Steven Dixon, Aerosmith's producer.

“The opportunity is immense. Once fans go onstage with Mixhalo, they won’t go back. This is what’s next in live music.”

Related Links: 

Spotify Closes In On 200M Monthly User Milestone, Despite Apple, Amazon Threats

Analysts Positive On Spotify's Content Spending Despite Margin Impact

Photo courtesy of Mixhalo. 

Posted-In: Aerosmith Foundry Group Mixhalo Pharrell Williams Rick RubinNews Financing Startups Best of Benzinga


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