Thursday, April 23, 2015

Smule Gets $38M For Music Apps

San Francisco-based Smule said today that it has raised $38M in a new equity and debt funding for the company's music apps and social service. Smule did not say how much of the round was debt and how much was equity. The equity funding was led by Adam Street Partners and also included Bessemer Ventures and Shasta Ventures. The debt portion of the round came from City National Bank. David Welsh of Adams Street Partners joins the company's board with the funding. Smule's CEO is Dr. Jeffrey C. Smith.