Laffitte Management Group and Sony Music join $12m Series A funding round for creator commerce platform KOMI – Music Business Worldwide

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

The round was led by VC investors 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 a little over a year.

KOMI announced its seed round last year, and reportS to have experienced more than 500% growth of creators signing up for the waitlist since December.

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

Creators cited as using the platform include Usher, Jessica Alba, Lizzo, the 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 offerings in beta.

Creators using the platform will now be able to use “on-page checkout functionality” and will be able to launch their own merch/product ranges directly to fans.

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

“KOMI has built a platform that is empowering artists, both 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 creators have huge commercial potential given the trust and distribution they have garnered from their fans.”

Added Crosbie: “However, creators and brands currently lack the digital infrastructure needed in order to maximize this opportunity, which is why KOMI is focused on building around three core pillars we believe are the most important for creators to reach their commercial potential, namely: Content, Commerce and Community

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

“The new product releases will take KOMI further towards being the one-stop-shop supporting artists and their teams.” In addition to the product work, the funding will also support the expansion of KOMI’s U.S. based team with a focus on Marketing and Creator Partnerships. To view open roles, please visit KOMI’s career site.Music Business Worldwide