Madison-based tech startup LÜM announced it has closed its seed round and entered a strategic partnership with concert promoter Frank Productions.
The seed round brings the company’s total investment to $1.2 million in less than a year, the company said.
LÜM, short for Live Undiscovered Music Inc., is a music streaming and discovery social network founded in 2018 by a group of University of Wisconsin-Madison students and alumni.
The app uses gamification to entice users to review music and surfaces new artists about which music companies can then gain insights. The platform focuses exclusively on emerging artists. In March, the company was featured on “Project Pitch It” on WISN-TV Channel 12.
Its new partnership with Frank Productions is aimed at bridging the “gap between live and digital music consumption,” the company said.
“The mission of Frank Productions is connecting artists with fans and helping them have fun since 1964,” said Joel Plant, chief executive officer of Frank Productions. “The LÜM app is a tool for both artists and fans to connect with one another and share and discover new music together. We’re very excited about this venture and look forward to what our unique partnership can build for fans and artists.”
The company said fans can discover and share up-and-coming artists on the platform, while artists can grow their listener base by leveraging their network of fans for growth.
The app is free for fans and artists. Revenue comes from in-app purchases, live entertainment companies, local radio stations and artist management companies.
“Ultimately, we will be the go-to digital application for anyone interested in finding great, emerging music,” said Max Fergus, chief executive officer and co-founder of LÜM. “LÜM is on a mission to create a platform where artists can finally succeed outside traditional streaming models, and fans can be the sole influencers – determining what music trends hit next.”
LÜM is currently running an exclusive beta for musicians and fans interested in helping shape the platform.The app will launch nationally on the Apple App Store this summer.
LÜM is headquartered in Madison and has an office in Austin, Texas.
