The world’s leading online Karaoke channel, Sing King, recently raised £550,000 via Angel Investment Network (AIN). Sing King offers high quality karaoke content via its YouTube channel and has over 90 million views per month. The seed-funding raise took just seven weeks on the platform, with the original £400k target notably achieved within 4 days. The money raised is being used for launching standalone apps across IOS & Android as well as a web platform.
Founded in 2014 by Chris Michael, it is the only karaoke channel YouTube allows to operate due to licensing restrictions normally in place. The channel is run by a team of six full time staff from London. The business is approaching 7.5 million subscribers and has more than 2,300 songs, with dozens more added weekly.
Discussing the raise, Xavier Ballester, Director of AIN’s broking division said: “Sing King’s revenues are starting to be very impressive. They hit 7 million subscribers as we were working on the raise. The numbers speak for themselves and there was plenty of interest from our investor database, who saw the huge potential for the business.”
According to Jordan Gross, Sing King CEO: “Music has the power to transform lives and the beauty of karaoke is that it transcends age, language and culture. We have an opportunity to deliver world-class karaoke on a bigger scale. With our round complete thanks to Angel Investment Network, we will make karaoke more accessible than ever before. This includes mobile, TV and web – transforming moments of time into moments of joy, wherever and whenever.”
News of the raise generated a lot of media interest, including EU Startups, MusicAlly, Techround and Bdaily.
