In-person event sound service Mixhalo raises $24M
It’s been an exceedingly difficult couple of years for live performers. And with live events drawing to a close comes a good deal of collateral damage for all of the many facets of the industry such performances directly and indirectly support.
Back in June, as things were tentatively reopening, Mixhalo CEO John Vars told TechCrunch that the low-latency, in-person audio streaming service used the pandemic as an opportunity to “step back and laser-focus on improving our core product.” With that came a pair of additions to its platform: Mixhalo Over Cellular and Mixhalo Rodeo. The exec adds, “We also found that with no live events on their calendars, venue operators had more time to talk about innovation and improving the fan experience. So, while business development suffered initially, as the year went on, we started to see the pipeline grow beyond even pre-pandemic levels.”
Today, the company announced that it has raised a $24 million Series B. The raise, led by Fortress Investment, follows a 2019 $10.7 million A round. The company tells TechCrunch the funding will primarily go toward new hires and R&D.
“The new influx of funds will mainly go to expanding our team to address the increasing interest from the market and to further innovate on our technology and product,” Vars tells TechCrunch. “We’ll be hiring across all functions, especially in technology. We’ve already made some great hires and are looking for talented people to join our team in a number of roles. Plus, we have some really cool new technology we’ll be rolling out over the next year.”
“It’s been a tough couple of years for the entertainment industry, but we’ve persevered by staying focused on improving our product while securing key partnerships along the way,” Vars said in a release. Lead investor Fortress Investment is also the firm behind TSX Broadway, a Times Square-based retail complex that features an outdoor stage and the standard sort of flashing lights you’d expect from that part of Manhattan. Mixhalo’s technology will, naturally, be integrated into the space’s venue.
Other recent high-profile deals for the company include Sting (at Caesars Palace), the Red Rocks Ampitheare, the Los Angeles Football Club, the Sacramento Kings and the Buffalo Sabres.