ATLANTA(Hypebot) – Despite an economic downturn that has frozen many new investments, Band Metrics has closed an angel round of financing led by Allen Graber, a technology investor and entrepreneur who will also join the company's Board of Directors. A TechCrunch50 2008 semi-finalist, Band Metrics provides a first-of-its-kind semantic web application for the music industry that collects, analyzes and displays artist's dynamic popularity.
The company's music intelligence and analytics are achieved through patent pending technology which assists artists in understanding large amounts of data relative to their music, fans and shows, while also helping them manage their digital identity.
"Global music content is increasing at unprecedented rates, as DIY tools and social networks are allowing artists to easily create, distribute, and share their music online." said Allen Graber. "However, there is presently no effective way for artists to then measure activity relative to their songs. We think Band Metrics has good growth potential as the company provides analytics that help bands, musicians and music industry professionals understand how their music is purchased, played and shared online."
Band Metrics' Founder and President Duncan Freeman, stated, "We're grateful to our investors and thankful that they share our vision of providing music analytics that gauge the popularity and sentiment of artists, which in-turn helps identify the music industry's rising stars. This investment round gives us even more footing from which to continue building out our product offering, and we look forward to releasing our public beta soon!"