In litte more than a year, the SellaBand concept has funded 18 recording artists from 11 different countries. SellaBand is on its way to becoming a global category leader and, today, announces the closing of a $5,000,000 (€3,500,000) in “Series A” round, led by Prime Technology Ventures.

“SellaBand, as a business model, provides a journey and experience for music lovers and this is obviously resonating on an international level,” says Johan Vosmeijer, co-founder and CEO of SellaBand. “We’re ecstatic to work with Prime Technology Ventures, as we truly believe they can help grow this new paradigm of the music industry.”

Prime Technology Ventures, a leading venture capital firm, is SellaBand’s newest investor. Prime Technology Ventures focuses on investing in companies in information technology and related industries by leveraging capital, experience and contacts to actively guide them into global category leaders. The firm has invested in companies in the Benelux countries, United Kingdom, Finland and Sweden and continues searching worldwide for future opportunities.

“We believe in the concept and the longevity of the SellaBand model, and so investing in the company makes complete financial sense,” says Sake Bosch, Managing Partner of Prime Technology Ventures. “We look forward to working together with SellaBand as they continue to change the face of the Music Industry.”

SellaBand provides an internet-based solution to the music industry’s funneling of new talent. Often called the stock market of the music industry, SellaBand is breaking down the walls for unsigned artists by allowing fans who believe in an artist’s music to buy “parts” of the work at a minimum of $10. Once the total amount funded by fans reaches $50,000, SellaBand helps the artist choose a recording studio and producers. The manufacturing and distribution of the album is paid for by the money raised by fans.

Embarking on major partnerships with Heineken Netherlands, Amazon, and The Orchard further validate the innovative approach that SellaBand has taken.

About SellaBand
SellaBand is an online company which offers a new model for free legal distribution of new music by enabling a direct relationship between developing artists and their fans. The site enables ‘believers’ to buy shares in unsigned bands to fund the professional recording and distribution of an album – including A&R, marketing and publishing.

Prime Technology Ventures
Prime Technology Ventures (PTV) is a leading European venture capital fund investing in fundamental hardware and software technologies in wireless, networking and the Internet. PTV focuses particularly on technology centers in the Netherlands, Finland, Sweden, Israel and the United Kingdom. The PTV team works closely with portfolio companies that strive for rapid international growth and maturity. PTV brings along a special combination of successful real-world business experience and a broad network of business accelerators, special investors and partnering expertise. This combination also makes PTV an attractive lead investor in syndication with local funds.