Serletic Snags $10.8 Million For Music Platform

Music Mastermind was founded in 2007 by Matt Serletic, former Virgin Records Chairman/CEO and the GRAMMY Award‐winning hit maker behind Matchbox Twenty, Gloriana, Carlos Santana, and others; and Bo Bazylevsky, a top Wall Street bond trader, senior hedge fund portfolio manager, and the former Global Head of Emerging Markets Corporate Trading at J.P. Morgan.

The independent entertainment and technology company today announced it has closed $10.8 million in Series B funding. Liberty Global and Intel Capitol  contributed $6.8 million and angel investers participated with an additional $4 million.

Music Mastermind is the developer of SoundBetter, the audio processing suite at the core of its upcoming consumer‐focused platform. This groundbreaking technology eliminates the traditional effort required to make music, breaking down barriers to creativity and allowing anyone to instantly create, publish, and distribute their own music. “At Liberty Global, we understand that digital technology is uniting people around the world and that music is a common thread among us,” said Bruce Dines, VP of Liberty Global Ventures. “We believe Music Mastermind’s cutting‐edge technologies will connect the international community in a completely new way.”

“We’re at the forefront of the next evolution of music entertainment,” said Matt Serletic who also heads Emblem Records. “It’s time to break down the barriers that prevent people from expressing themselves musically.”

The company raised its first round of funding in February 2010 with nearly $5 million from angel investors.

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David M. Ross has been covering Nashville's music industry for over 25 years. [email protected]

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