Maestro Secures $15 Million Series B to Accelerate the Growth of the Creator Economy
Maestro, the interactive live streaming platform for creators and content owners, today announces it has raised a $15 million Series B. New investors include NetEase, Sony Music Entertainment, and Acronym Venture Capital, alongside a host of industry titans including Twitch co-founder Kevin Lin and Moonwell Capital, founded by former Activision (News - Alert) Blizzard executives Michael and Amy Morhaime. This takes the total raised to date to $22 million.
Several existing investors also contributed to the round including SeventySix Capital, The Strand Partners, Stadia Ventures, Hersh Interactive Group, and Transcend Fund, as well as early Zoom employees Richard Gatchalian and Aaron Lewis.
Maestro more than tripled revenue in 2020, grew its team fivefold in the last six months, and paid out millions of dollars to creators since the launch of its monetization tools in May. The Series B capital will fuel value chain expansion of its products and continued diversification of its customer base. From industry partners such as Epic Games, Microsoft (News - Alert), ViacomCBS, Shopify, Universal Music Group, Adweek and Wave to creators big and small--from Billie Eilish to the International Association of Fire Fighters--all video-driven experiences benefit from Maestro.
Amidst the rapid acceleration of streaming due to the COVID-19 pandemic, Maestro's interactive video platform has been at the forefront, offering creators and content owners ways to build and grow businesses through meaningful digital experiences and modern monetization strategies like pay-per-view, subscriptions, and ecommerce. Whether it's an individual offering a premium experience to their core community, a company creating a live extensio of its brand, or a business looking to launch a consumer destination or app around video, Maestro guarantees the most robust and customizable solution with the fastest time to market.
"We are pleased to be supporting the continued development of Maestro as part of our ongoing investment in new technologies that provide artists with cutting-edge tools and solutions for growing their careers. Maestro gives artists greater flexibility and control to build the most engaging and customized events for their fans, allowing creators at any stage of their career to put together a world class live stream event," said Dennis Kooker, President, Global Digital Business and U.S. Sales, Sony Music Entertainment.
"Maestro is at the forefront of redefining the relationship of content owners and creators with their viewers. Instead of relying on incumbent distribution platforms, customers control the audience relationship directly and maximize engagement and monetization in a way that fits with their brand objectives. We are very excited by Maestro's potential to be a fundamental driver in the growth of the creator economy," said Joshua Siegel, General Partner, Acronym Venture Capital.
"We are witnessing one of the most significant economic shifts in history; a transition from the industrial revolution--produce your widget as cheaply as possible and distribute it as far and wide as you can--to a new model that is essentially the inverse: find your core audience and monetize them effectively and you can do what you love for the rest of your life," said Ari Evans, Founder and CEO. "We are reinvigorated by the human spirit and creative passion exploding from what is now hundreds of millions of creators globally and, importantly, watching the career path flourish with a variety of models that are all working symbiotically. We serve the creator as a partner in their journey and the achievement of their dreams."
For more information, visit www.maestro.io.
Maestro's mission is to grow the GDP of the creator economy. It empowers the 100M+ global creator market -from major enterprises to small businesses-with an interactive video platform to build strong communities and monetize passions. Customers can easily set up unique branded experiences, monetize in a variety of ways ranging from ticketing to subscriptions and ecommerce, and learn how to achieve their goals with powerful analytics.
Whether it's an individual creator, a company creating a live extension of their brand, or a business looking to launch an interactive platform for a specific vertical, Maestro guarantees the most robust and customizable solution with the fastest time to market.
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