21 December 2019:
Weav Music has raised $5 million in Series a round of funding. The funding round was led by King River Capital.
Peloton and existing investors Passion Capital and Rivet Ventures also participated in the funding round.
Megan Guy (Co-Founder and Partner, King River Capital) will join Weav Music’s Board of Directors.
The company will use the fresh capital to expand its adaptive music platform — currently available exclusively via the company’s award-winning Weav Run app — throughout the health and wellness industry and beyond.
Elomida Visviki, Co-Founder and CEO, Weav, said, “The music industry has made tremendous progress with ubiquitous streaming services, yet records themselves remain the same static audio files of century-old vinyl.”
Elomida Visviki, added, “We’re committed to evolving the way music is created and experienced. To that end, we’re thrilled to join forces with King River, whose partners have played an influential role in some of the world’s most game-changing technologies over the past few decades.”
Megan Guy, Co-Founder and Partner, King River Capital, said, “Music is an integral and energizing element of fitness for so many of us, with tangible impact on performance. Weav’s software enhances the experience of being active and capitalizes on broader growth trends in connected devices, and personalized interactive health and wellness. King River is delighted to be on this journey with Elomida and Lars — incredible founders with an exceptional track record of building viral, essential software products that delight users around the world.”
Weav Music was founded by Elomida Visviki and Lars Rasmussen in 2015. It’s technology personalizes the experience of listening to music by adapting a recorded track in real-time, to match a listener’s activity.
(Image – Weav Music)