Live Undiscovered Music (LUM) announced today that it closed a reported $3 million Series II financing round.
According to a release, the funds will be used to continue developing methods that empower independent artists. The Wisconsin Alumni Research Foundation (WARF), among other investors, participated in the round.
The tech company also announced its partnership with NE-YO and Compound Entertainment.
“The digital music landscape is changing, and LUM is excited to be leading that change for how artists and fans consume, share and support music,” LUM CEO Max Fergus said in a statement. “Our partnership with NE-YO reinforces LUM’s mission to create a new platform, outside of traditional streaming models, that provides all of the tools artists need to grow their careers and be successful promotionally, artistically and financially.”
Since its start in 2018, the LUM platform has grown to more than 100,000 users and more than 200,000 tracks uploaded to the app.