RANGE COUNTY, Calif., Feb. 22, 2022 /PRNewswire/ — Groundbreaking Live-Streaming App Partnering with Octane to Forge a Music Technology Renaissance in Southern California
Created by musicians for musicians, Trubify—an innovative live-streaming app that offers fair pay to artists—has announced its $12MM Series A round of funding.
Trubify has partnered with Octane, an Orange County, California, tech accelerator and innovation organization, providing investment capital and growth resources that is committed to creating more than 55,000 high paying technology jobs in Southern California by 2030.
“Trubify has grown exponentially—both nationwide and globally—and Series A funding will help us accomplish our business milestones and strategies while focusing on maximizing investor returns,” says Trubify founder and CEO Stephen Tyszka. “As a Southern California-based company, we are also aligned with Octane’s mission to enhance a growing tech ecosystem here in our own community.”
Two of Tyszka’s companies have been acquired, including innovative fintech app Blast.com, co-founded with accomplished serial investor Walter Cruttenden (Founder of Acorns, Roth Capital, iBank of e*Trade, ATM.com). Trubify is backed by Cruttenden, who also serves on Trubify’s Board of Advisors.
Since launching in 2021, Trubify has increased engagement on its platform by over 500 percent, while live streaming in general was up 266 percent that same year.
An experienced leadership team and advisors—not to mention the platform’s built-in virality—has garnered $1 million in royalty contracts in less than one year since launch, with $3 million more in advanced negotiation.
Trubify’s rapid growth is partly due to a demand for more socially responsible music consumption, but the platform has also devised features that actively assist creators in acquiring engagement and revenue—a massive benefit for artists seeking to pivot their business strategies in a music industry forever altered by the global pandemic.
“As an Octane LaunchPad Accelerator alum, Trubify epitomizes the type of innovation that synergistically ties into our mission,” says Octane CEO Bill Carpou. “Their music-streaming platform that empowers artists not only showcases the SoCal tech community but is leading the way for future innovation stemming from our ecosystem.”
Octane convenes and enables the Southern California tech and medtech business ecosystem by connecting people, resources, and capital. We impact our community through LaunchPad, a top-performing accelerator, Octane Capital & Growth, a platform connecting capital partners and advisors with validated companies and decision intelligence to drive growth, Ignite Series, in person and on-demand leading content, and Octane Foundation for Innovation, focused on furthering our mission while advancing diversity and inclusiveness. Learn more by emailing Scott Lopez, Managing Director of Capital Markets and FNEX Capital registered representative, at firstname.lastname@example.org.