Bloomington, Indiana-headquartered performing-arts networking platform Stagetime has officially announced the completion of a $1.5 million funding round.
The two-year-old startup, which functions “as a custom solution for performing arts professionals and employers,” unveiled the multimillion-dollar raise this morning. Chicago-based VC group Hyde Park Angels led the round, which also drew support from M25 (another Chicago firm) and the Indiana University Angel Network.
Stagetime – which says that it counts as users north of 1,600 individuals as well as organizations including the Santa Fe Opera and the Dallas Opera – intends to use the capital “to build its team, further fuel its organic customer growth, and continue to enhance its product features.” Specifically, the platform is preparing to roll out a “casting tool,” designed to “allow users to plan for future talent needs efficiently,” in spring of 2022.
More broadly, as singers, composers, and other professionals are now looking “to restart interrupted careers” and “rebuild professional networks,” the release proceeds, it’s more important than ever to have “an effective platform” for networking.
However, higher-ups maintain that “traditional networking products…do not effectively accommodate the dynamism of artists’ work schedules or the multifaceted nature of their resumes and creative portfolios.” Additionally, the FAQ section of Stagetime’s website elaborates on the type of information and content that users should include on their profiles: “Imagine a mash-up of a great LinkedIn profile, the most important pieces of your website, and the connectivity of Facebook (but with professional boundaries!).”
Addressing her company’s raise in a statement, Stagetime founder and CEO Jennie Moser – formerly a graphic designer for the Opera Theatre of Saint Louis and the founder of Jennie Moser Design – said in part: “Since we began building Stagetime, the top priority has been to give artists a powerful tool that puts them in charge of their own careers.
“Our platform empowers artists to tell their stories easily and creatively, then leverage those narratives to connect with people who can help them advance. This, in turn, will help the performing arts industry grow and flourish,” finished Moser.
Stagetime’s funding round represents the latest in a recent series of high-profile raises in the music industry – with a particular emphasis on (relatively) small capital influxes for startups. Since mid-October, for instance, metaverse “music experience startup” Stage11 has raised $5.8 million, AI music-separation business Audioshake has completed a $2 million raise, and Swiss company Mictic has received $2.5 million for music wearables.