, a startup that provides services to link bands and musicians with fans, is tuning up for more growth with $3 million in new funding.
ETF Ventures led the Series B round. It is a new investor for ReverbNation.
Also participating were existing investors Southern Capitol Ventures in Raleigh and Novak Biddle Venture Partners.
ReverbNation provides a marketing services suite that enables bands to communicate with fans over the Web. More than 250,000 artists already use the site. The company launched with $2 million in funding in 2007 under the name eMinor with its Web site called ReverbNation. It has offices in New York City and Durham.
Bands can use ReverbNation to promote themselves on social networks while also touting their own music, blogs and homepages. ReverbNation also can track where the artists’ music is played across the Web and link its members with other branding partners.
ReverbNation targets artists who lack the support of established labels or prefer to operate independently.
“We have observed that indie artists are actually more influential, pound for pound, than their established counterparts,” Mike Doernberg, ReverbNation co-founder and chief executive officer, said in a statement. “They know their fans personally and have stronger relationships with them.
“Alone, these individual artists cannot deliver the reach that brands need, but bundled together, they can. We configure entire ‘portfolios’ of participating artists based on the fan demographics the brand is targeting and allow the artists to opt-in to the program. These types of paid partnerships have traditionally eluded indie artists.”
Jason Caplain, partner at Southern Capitol, said ReverbNation helps artists attract attention.
“It is increasingly difficult to connect with consumers in a meaningful way via mainstream media,” he explained. “ReverbNation’s Artist Influencer Network, comprised of millions of loyal fans, represents a focused evolution of permission-based marketing that works.”
Southern Capitol is associated with Capitol Broadcasting Co., the publisher of Local Tech Wire and WRAL.com.