KOMI Raises $12 Million in Funding Round, Backed by Sony Music and Live Nation

LA-based startup, KOMI, a creator commerce tool that has been utilized by celebrities such as Lizzo and Elton John, has successfully raised $12 million in a recent funding round. The round saw participation from venture capital firms RTP and Third Prime, along with industry giants Sony Music and Live Nation. This comes in addition to the $5 million in seed funding that KOMI raised in December, bringing the total funding to $17 million.

KOMI’s platform is used by a diverse range of high-profile personalities, including Gwen Stefani, Usher, Matthew McConaughey, Jessica Alba, Dwayne Wade, and the San Francisco 49ers. The tool allows musicians, athletes, and celebrities to create landing pages that link to websites where fans can purchase concert tickets, and merchandise or stream videos and music.

With the newly raised funds, KOMI plans to expand its offerings to include on-site checkout for fans purchasing merchandise and analytics tools for improved marketing. The company also plans to use the funding to hire employees in the United States, focusing on marketing and creator partnerships.

KOMI’s CEO, Lewis Crosbie, co-founded the company with the aim of providing users with a “digital infrastructure” to grow their direct-to-consumer businesses. He believes that the creator economy, which is projected to grow to $480 billion by 2027, offers creators significant commercial potential due to the trust and distribution they have garnered from their fans.

KOMI is focused on building tools that are important for creators to reach their commercial potential. Other investors who participated in this and previous funding rounds include Laffitte Management Group, Red Light Music, Antler, and E& Capital.

KOMI’s tools have already been used to reach more than 2 billion fans, demonstrating the platform’s wide reach and potential for growth in the burgeoning creator economy.

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