binarypublishAustin-based booking and live music management software company, Prism.FM, has secured $5 million in Series B funding. Here are the main highlights:
- Frontier Growth, led by founding partner Andrew Lindner, led the investment round with a personal contribution of $1.55 million towards the investment pool.
- The funding will be used to boost Prism’s product, engineering, and go-to-market strategy.
- The Prism platform is an industry-leading system that brings together venues, agencies, and promoters.
Prism.FM’s CEO, Matt Ford, revealed that the company’s software has been used to organize hundreds of thousands of shows at over 10,000 venues worldwide. “We have seen unprecedented growth after supporting the live music industry during the pandemic,” Ford stated. The company was among the first funders of the National Independent Venue Association (NIVA) and continued investing in their product and arranged payment plans for struggling customers.
While Prism.FM has found significant success within the talent buying ecosystem, it has also made inroads into new market segments such as touring promoters, performing arts centers, and Broadway presenters. Andrew Lindner has additionally made a $30 million investment in live music software platform Venu, through Frontier Growth.
Lindner expressed enthusiasm about the partnership with Prism.FM, emphasizing the rapidly evolving music industry and its increasing adoption of technology. Lindner lauded Prism.FM’s platform for offering promoters and independent venue operators a better way to manage talent acquisition.
Matt Ford, the CEO of Prism.FM, has a history of launching multiple software companies servicing the live music industry, such as spotlight.fm and Solstice. Furthermore, he has experience in running a concert promoter business, organizing an annual festival, and booking thousands of shows annually at various venues in Austin, Texas.
