# Sofar Sounds

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sofar-sounds

- Industry: Travel & Leisure
- Headquarters: London, UK
- Website: www.sofarsounds.com
- Total disclosed funding: $5.1M
- Latest round: Series A (Jan 27, 2015)
- Investors on record: 3

## About

Sofar Sounds Ltd. is a live music platform that curates intimate concerts in unique venues, connecting audiences with local artists in various cities worldwide. Their events foster a close-knit music experience for passionate enthusiasts.Founded in 2010 in London, UK, Sofar Sounds Ltd. creates live music experiences in unconventional venues. The company has successfully closed 3 deals, with the most recent funding round taking place on May 24, 2019. In this round, they raised GBP 19.34 million, with investments from Battery Ventures, Octopus Ventures, Union Square Ventures, and Virgin.com Limited, bringing their total amount raised to GBP 19.34 million and their current valuation to GBP 59.71 million. The company is co-founded by Adam Sharpe, Hank Wiedel, Juan Tappan, Maiken Mogensen, Max Lowndes, among others. The company has no known subsidiaries or parent companies.Sofar Sounds offers a platform for live music experiences, focusing on intimate concerts in unconventional venues. These events provide audiences an opportunity to engage with local artists in settings ranging from private backyards to iconic landmarks, catering to music enthusiasts eager to discover emerging talent. The company operates in over 400 cities globally, serving a diverse audience that includes local artists and venue hosts.In 2023, Sofar Sounds reported a revenue of GBP 16,900,104. However, the company recorded an EBITDA of GBP -24,073,880 for the same year, highlighting the challenges faced in profitability despite revenue generation.Following their most recent funding round on May 24, 2019, where they raised GBP 19.34 million, Sofar Sounds plans to leverage this capital for expansion and the introduction of new products aimed at enhancing the live music experience. Specific targets for market expansion include additional locations in Europe and North America, to be achieved by mid-2025, as they seek to increase their presence in cities with a growing demand for intimate music events.

## Funding rounds

- Series A, Jan 27, 2015, $4.6M — Octopus Investments
- Seed, Mar 21, 2014, $0.5M — Index Ventures, LocalGlobe, Octopus Investments

## Investors

- Index Ventures (https://capitalatlas.ai/funds/index-ventures) — Seed
- LocalGlobe (https://capitalatlas.ai/funds/localglobe) — Seed
- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Seed, Series A