Music distributor and tech firm Too Lost has been splashing its cash recently, making a ‘seven-figure’ investment in startup AntiFragile Equity Partners last October. Now it has some new funding of its own to shout about.
It’s not saying how much, mind. But the strategic investment comes from GoldState Music and TA Associates, with a new credit facility from Pinnacle Financial Partners also bolstering Too Lost’s financial muscle.
The company said it plans to use the proceeds to expand its spending on artist advances and catalogue acquisitions, as well as continuing to develop its technology services.
“GoldState and TA share our respect for artist independence and our long-term vision for modernising the music industry,” said Too Lost CEO Gregory Hirschhorn.
“Their deep experience and resources will allow us to invest further in our platform, expand globally, and put more capital and opportunity directly into artists’ hands.”
MBW suggested that the funding may be a ‘nine-figure’ amount of up to $300m – three times its annual revenues of $100m last year.
