Topspin Media Inc., the music technology and marketing startup run by former Yahoo! Inc. music chief Ian Rogers, has revealed two rounds of funding from venture investors with whom the company founders enjoy close relationships.
Redpoint Ventures of Menlo Park, Calif., supplied Topspin's Series A round last year, while Foundry Group LLC of Boulder, Colo., joined Redpoint in a more recent Series B round. The dollar amounts of each installment were not disclosed.
Santa Monica, Calif.-based Topspin provides a type of customer relationship management software for musicians. The company has been slow to release details concerning some of its products, but it has discussed a back-end technology and e-commerce service that allows artists to sell music and merchandise directly to fans via subscription services, digital downloads of albums and individual songs, and other bundled plans.
"Our main thesis is that by turning the music world from low margin to high margin from a musician's perspective, a middle class of artists can make a living," said Rogers, whom Topspin named CEO in April.
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