US-based, digital-first music talent platform StarMaker attracted $6.5m in series B funding yesterday from investors including Qualcomm Ventures, the corporate venturing arm of semiconductor company Qualcomm, and social media company Gree.
Merchant bank Raine Group’s corporate venturing unit Raine Ventures led the round, which also included Crosscut Ventures, Three Bridges Ventures and iGlobe Partners, and angel investors Allen DeBevoise and Joe Perez.
StarMaker operates a network across social media sites including Facebook, Vine and Instagram, and video site YouTube, providing users with the tools to create professional quality videos and licensing to monetise those videos.
The company has built a community of users and established partnerships with labels, publishers and television talent shows such as NBC show The Voice.
StarMaker previously raised $4m from Qualcomm Ventures and iGlobe Partners in a 2013 series A round. The new funding will be used to expand its platform and increase its userbase from a current 30 million.