645 Ventures and Foundry Group led a group of investors providing $12 million in Series A funding for Mandolin, which recently won Best Livestreaming Platform at the 2021 Pollstar Awards.
Additional investors include High Alpha and Marc Benioff’s TIME Ventures.
One of the terms of the funding is that Nnamdi Okike, managing partner and co-founder of 645 Ventures will be joining Mandolin’s board.
“At 645 Ventures, we believe that exceptional companies are being built that enable consumers to experience new behaviors that were accelerated during COVID-19,” Okike said in a statement. “One of these categories is content livestreaming, and one of these companies is Mandolin. Mandolin provides the best technology platform to enable livestreaming for artists, venues and fans, and they’re building a business to serve the needs of this fast-growing category. We’re excited to lead their Series A round.”
Mandolin’s latest technology, Live+, is a platform built as a “digital amplifier” for hybrid live events. It was a key part of the new round of funding.
The company was founded in 2020 and has hosted more than 1,500 shows and served more than 305,000 fans.
Mandolin CEO Mary Kay Huse said in a statement: “I’m thrilled to have Nnamdi join the Mandolin board. His extensive experience in helping early stage SaaS and consumer tech companies reach the next level will be invaluable as we look to supercharge our growth and make Mandolin Live+ a household name.”
Huse was named to Pollstar’s 2021 Women Of Live list. She also spoke on the “Changing Lanes: How to Turn Shutdown Fan Engagement Into Post-Pandemic Ticket Sales” panel at Pollstar Live! 2021.