We are pleased to announce our recent Series A investment in Mandolin, made alongside our partner fund High Alpha Capital, and co-led by 645 Ventures, with Marc Benioff’s TIME Ventures joining the round as well. Mandolin, based in Indianapolis, Indiana, is revolutionizing the way that musicians connect with their fans by creating unforgettable experiences in a digital format.
Prior to COVID-19, live concert performances were a $2 trillion market, and that revenue evaporated overnight as the pandemic shut down live music. Artists, promoters, and venues scrambled to find new ways of reaching their audiences, and Mandolin’s Livestreaming platform enabled artists to continue to bring live performances to their fan bases virtually during the height of the pandemic.
Mandolin provides a reliable, high- quality, turnkey solution for artists looking to produce fully virtual or hybrid live/virtual events. The pandemic accelerated adoption of livestreaming by artists and venues, and we believe fans now expect all concerts to be digitally simulcast.
Importantly, livestreaming of concerts presents additional monetization opportunities to artists and venues. To date, Mandolin has hosted more than 1500 shows for over 300,000 fans, and has partnered with some amazing institutions like The Ryman Auditorium, Tibet House US, and City Winery.
Mandolin CEO Mary Kay Huse’s prior roles as a senior executive at Salesforce and ExactTarget means she fundamentally understands the value data and analytics can bring to fan engagement, and Mandolin’s platform can offer unprecedented data and insights about their fans to artists, venues, and their management.
We look forward to working with Mandolin CEO Mary Kay Huse, 645 Ventures, and our partner fund High Alpha to help Mandolin transform how live music is experienced and consumed.