Startups offering various services for musicians have proven popular with investors lately amid a broader drop in funding for creator startups. That partly reflects the opportunity created by social media apps that have helped new musicians quickly gain followings, while established ones can more easily communicate with fans and see their tracks go viral.
Bonsai is the latest to nab new money. In September, it closed a $2 million seed extension round, bringing its total funding to $7 million. Backers include Activate Venture Partners, Triple Point Capital, and angel investors such as Beats by Dre co-founder Steve Lamar, Google Drive founder Jonathan Rochelle and Google TV general manager Shalini Govil-Pai. News of the funding hasn’t been previously reported.
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