Spotlite, an app that lets artists stream their music live, has just closed an impressive round of funding to enhance their app.
Spotlite just finished a round of funding led by Sequioa Capital China and BlueRun Ventures in which they raised $10 million. Spotlite will use the funding to expand their services and build upon their app.
The free app allows artists to stream direct to fans with original songs, covers or anything to gain exposure, build up your fanbase and even make money. Spotlite’s partnerships include major labels Sony/ATV and Universal Music Group which allows users to cover high profile songs under the label’s copyrights.
Artists are able to earn money through the app via ‘Spotlite Coins’ which fans can buy for roughly a penny a coin. Fans can use Spotlite Coins to vote for artists which earns the artist Spotlite Coins, which they can convert back into real cash with a daily maximum of $500.