Laffitte Management Group and Sony Music Join $12M Series A Funding Round for Creator Commerce Platform KOMI – Music Business Worldwide

KOMI, described as an “all-in-one creator commerce platform,” raised $12 million in a Series A funding round.

The round was led by venture capitalists including RTP, Third Prime, Antler, E& Capital and Contour Ventures, alongside strategic investors including Sony Music Entertainment, Live Nation, Vicus and Laffitte Management Group.

This brings the total amount raised to $17 million in just over a year.

KOMI announced its seed round last year and reports having seen more than 500% growth in creators on the waitlist since December.

Today, KOMI notes that it partners with creators and brands “from six continents that have a combined global audience of over 2 billion engaged fans.”

Creators cited as using the platform include Usher, Jessica Alba, Lizzo, San Francisco 49ers, Matthew McConaughey and Charles Leclerc.

KOMI initially provided creators and brands with what it calls “a social-first digital storefront” through a white-label content hub. KOMI is now launching two new beta offerings.

Creators using the platform will now be able to use the “pay on page functionality” and will be able to launch their own product lines/products directly to fans.

KOMI says its users will also be able to access new custom data capture tools, in addition to “deeper marketing tools.”

“KOMI has built a platform that allows artists, established and aspiring, to maximize their ability to authentically monetize their fandom.”

Ron Laffitte, Laffitte Management Group

Lewis Crosbie, CEO and Co-Founder of KOMI, said, “The creator economy is on track to grow to $480 billion by 2027, proving that creators have enormous business potential given the trust and distribution they have earned from their fans.”

Crosbie added, “However, creators and brands currently lack the digital infrastructure to maximize this opportunity, which is why KOMI is focused on building around three fundamental pillars that we believe are most important for creators to reach their business potential, namely: content, commerce and community.

Ron Laffitte, Founder of Laffitte Management Group, Director of One Republic, Usher and Pharrell Williams, added, “KOMI has built a platform that allows artists, established and aspiring, to maximize their ability to authentically monetize their fandom.

“The new product releases will allow KOMI to become the one-stop-shop to support artists and their teams.” In addition to product work, the funding will also support the expansion of KOMI’s US team with a focus on marketing and creator partnerships. To view open positions, please visit the KOMI career site.The music industry around the world