Direct artist-to-fan platform Medallion has raised $13.7m (£10.8m/€12.5m) in Series A funding with the round co-led by cryptocurrency venture funds Dragonfly and Lightspeed Faction.
Investors from the music industry included Bill Silva Entertainment, Foundations Artist Management, and artists such as Disclosure’s Guy Lawrence, Jungle and Tiga.
The company intends to use the money to create new revenue opportunities for artists and immersive experiences for fans with their favourite musicians.
“With the new capital we’ve raised, we plan to deliver against an aggressive technical roadmap that includes building a suite of modern and simple tools for artists to operate their communities effectively, creating next-level fan experiences around first access to music, tickets and merch, and delivering premium products that fans can’t live without,” said Medallion chief executive Matt Jones, formerly of Songkick.
Medallion launched in 2022 and has enabled artists to launch fan-first digital environments and target their most devoted followers to deliver exclusive access to
new releases, merchandise, and experiences.
The platform has attracted more than 200,000 users and operates spaces for the likes of Disclosure, My Morning Jacket, and Greta Van Fleet.
“Artists owning direct access to their fans is critical, but they also need more ways to deliver value for it to drive impact,” said Jones.
“While streaming has opened up access to music and social media and created new channels for direct distribution, the full potential of direct artist-to-fan connections has not been realised.
“Medallion’s artist-centric approach and emphasis on digitally native fan experiences is helping usher in a new, transformative period for artists.”
Prior to the Series A round, the company raised more than $9m in seed funding.
It is led by technology, e-commerce, and music industry figures with previous experience at Songkick, Instagram, YouTube, Spotify, Warner Music Group and Live Nation.