Salt Lake City — beatBread (www.beatBread.com), the pioneering music funding platform that enables artists to access growth capital while maintaining control of their careers and ownership of their music, has completed a seed round led by Deciens Capital, extending beatBread’s fundraising to date to over $34 million.

Fintech-focused venture capital firm, Deciens Capital, was joined by existing and new investors, including Afore Capital, Angel Ventures, IAG Capital Partners, Mucker Capital, Pandeavor Ventures, Octane Lending CEO Jason Guss, Pier Capital, and Westrie Capital.

“We are excited to team up with Deciens and other experienced investors to continue to grow and offer more access to flexible capital to more artists," says beatBread CEO Peter Sinclair. “This investment will allow us to expand our feature set and will extend the already large capital pool in beatBread’s invite-only Investor Network. In the legacy music industry, artists were forced to sacrifice control of their career and their masters to access growth capital. Our mission is to enable artists to access capital on their own terms."

Ishan Sachdev, partner at Deciens, noted, “beatBread’s next-generation, data-driven platform presents a tremendous commercial opportunity because it provides fast, customizable, and transparent funding choices to artists. We look forward to partnering with Co-Founders Peter Sinclair, John Haller, and the impressive beatBread team as the company continues to accelerate and serve its rapidly expanding client list."

Since its launch in November 2020, beatBread has made more than 300 advances to artists and labels across multiple genres, six continents, and a broad range of career stages. Advances offered through beatBread range from as little as $1,000 to as much as $2 million per artist. Artists receive funding in exchange for a limited share of existing catalog revenues, with options also available for advances against unreleased music.

All advances are repaid from a share of an artist’s streaming and airplay revenues, over a period of the artist’s choosing. Advance agreements leave touring, publishing, synch, and merchandise revenue streams untouched, and do not place any restrictions around how funds are used, thus leaving the choice of marketing and distribution partner in the artist’s own hands.