New York, NY (Top40 Charts) Weav Music, the audio innovation lab helmed by Google Maps co-founder Lars
Rasmussen and marketing visionary Elomida Visviki, today announced a $5M Series A financing round to change the way we make and experience music. The round was led by King River Capital; global fitness leader Peloton also participated, along with previous investors
Passion Capital and Rivet Ventures.
The infusion will enable Weav
Music to expand its adaptive music platform -- currently available exclusively via the company's award-winning Weav Run app -- throughout the health and wellness industry and beyond.
"The music industry has made tremendous progress with ubiquitous streaming services, yet records themselves remain the same static audio files of century-old vinyl," said Visviki, Weav's Co-Founder and CEO. "We're committed to evolving the way music is created and experienced. To that end, we're thrilled to join forces with King River, whose partners have played an influential role in some of the world's most game-changing technologies over the past few decades."
Co-founded in 2015 by Visviki and Rasmussen, Weav is ushering in a new era in recorded music. The Brooklyn-based lab's proprietary technology personalizes the experience of listening to music by adapting a recorded track in real-time, to match a listener's activity -- seamlessly remixing energy, structure and crossfades while preserving quality and artistic integrity. The result is truly bespoke playback with unprecedented applications in fitness, sports, dance, gaming, AR/VR, and any other area where music can enhance an individual's experience.
Weav has already made waves by producing adaptive tracks by top artists via licensing deals with both major and indie labels. The new capital will empower the young startup to continue building its partnerships as well as its library, and broaden well beyond its fitness roots. It will also enable the team to continue scaling its adaptive music production via deep learning.
"Music is an integral and energizing element of fitness for so many of us, with tangible impact on performance," said King River Co-Founder and Partner Megan Guy, who will join Weav Music's Board of Directors. "Weav's software enhances the experience of being active and capitalizes on broader growth trends in connected devices, and personalized interactive health and wellness. King River is delighted to be on this journey with Elomida and Lars -- incredible founders with an exceptional track record of building viral, essential software products that delight users around the world."
About Weav Music
Weav
Music is ushering in a new era in recorded music. Using Weav's technology, artists make adaptive records that can seamlessly and in real-time change tempo, intensity, genre, timeline, arrangement, and more. Weav has worked with hundreds of the world's top artists and major labels to produce a growing library of adaptive music. Initially focused on fitness, Weav is showcasing its technology in the award-winning Weav Run app and will make a new adaptive music platform available to fitness technology partners in 2020.
About King River Capital
King River Capital (KRC) is a venture capital firm that partners with exceptional entrepreneurs and management teams to build innovative, iconic technology companies in the United States and Australia. KRC invests in post-revenue, high-growth software and AI-driven businesses that are solving critical problems within large markets. Since its first fund launched in 2018, KRC has invested in seven companies, across sectors including fin-tech, healthcare, cybersecurity, and the future of work. The firm was founded by three partners with a strong track record in early to mid-stage venture investing, and whose legacy portfolio comprises over 50 companies across multiple markets. For more information, visit www.kingriver.co.
