Fanify, a new music promotion tech start-up, plans to raise seed funding of $750,000 after its recent launch.
The Dundalk start-up is led by Pete Rust and Dagan Fleming, who run the Lockup recording studio in Dundalk, with fintech entrepreneur Shane Brett providing the initial capital to launch the venture.
Fanify is a platform for bands, artists and DJs to automate and manage their digital promotion. It uses artificial intelligence to pinpoint niche and specific fans, to target and build relationships with social media and streaming platforms like Spotify.
“The closest thing to our competitors are basically digital marketing tool sets for the music industry. You can only really get them to be effective for you if you already understand a deep level of digital marketing that would have a massive time investment,” Rust said.
Fanify is intended to be a plug-in-and-go service for music promotion so artists can focus more resources on recording and playing. Artists pay a monthly fee to use the platform.
Rust likened the service to CD Baby, which is used for managing digital music distribution, but for online marketing and promotion.
Fanify was born during the pandemic when Rust and Fleming expanded the Lockup with a record label and were looking at ways to promote it.
Fleming said the insights generated for artists that use the platform can inform other decisions such as where to play.
“Fanify will begin to help musicians to say, ‘you need to go on tour in the UK because that’s where your fanbase is’ or ‘you need to book a gig in Canada’. We can start to prompt performers to go elsewhere,” Fleming said.
The start-up is now seeking funds to expand the reach of the platform and to eventually scale it internationally as well as hire a team.
Investor Brett, who founded fintech company Gecko Governance, is the main backer of Fanify through his new investment firm Global Perspectives.