Prism, the leader in live music management software, announced today it has raised an $8 million Series A funding round led by Austin-based Stephen Cook. Cook is joined with strong support from Jay Jensen and participation from other existing investors. With this round, Prism has raised a total of $11.2 million to date.
Since its launch in 2018, Prism has streamlined and simplified the complex process of booking live events for venues, promoters and talent buyers. Over 1,500 venues trust Prism and even through the pandemic, Prism has retained the vast majority of its customers and added a number of new partners looking to invest in their future.
“I am extremely grateful for the resources to accelerate product development. The pandemic environment means music venues, promoters, and talent agencies are having to do more with a scaled down staff. I truly believe that the biggest thing we can do to help the industry is provide a tool that is equipped to do just that–enable small teams to be more effective than ever with tools to streamline, organize, and enhance communications” says Matt Ford, CEO of Prism.
Juan Torres, VP of Operations added, “At the beginning of the pandemic, we had two choices: panic and go for something brand new, or trust that covid times will eventually pass which means now more than ever is the time to stay focused. I am very grateful that we made the choice to double down on our vision. Through the pandemic, we kept our engineers moving full steam ahead on innovation and the product has never been better.”
During the pandemic, a number of agency organizations – referred by venue and promoter partners – began coming to Prism to see what solutions were available. It became clear that there was an opportunity to serve talent agencies with state of the art software connected to promoters and venues. With the advent of its agency platform, Prism will provide a single, end-to-end solution and be the ubiquitous music industry software for live events.
“Providing a world class tool to promoters, venues, and agencies is just the beginning. It’s a well known problem in the industry that communication between partners is often redundant and cumbersome. Whether it’s getting ticket counts, figuring out who to pay what the night of the event, or grabbing holds for a tour, Prism will streamline these processes with the new resources at hand,” said Ford.
The company will use the new funds to accelerate the development and launch of the agency platform and make key strategic hires. Prism has brought on talent in engineering & product management, including Ben Bruce (formerly of Microsoft), Joe Bell in marketing, and a number of hires in client success. Prism’s agency platform is currently in beta with plans to launch in the coming months.
Prism is the all-in-one live music management software that helps venues, promoters and agents book more shows. The streamlined software offers calendar management, one-click integrations with ticketing platforms, offer generation, budgeting, forecasting, revenue tracking, settlement, task management systems and financial reporting to provide one source of truth and real-time data for event details. Venue managers, promoters, talent buyers and soon agencies can leverage a solution that brings all of the various pieces of event management into a single, consolidated system that automates the booking process for ultimate efficiency, productivity and profitability. Prism is trusted by over 150 promoters and 1500 venues worldwide including Pabst Theatre Group, Hartke Presents, IMP Concerts, Z2 Entertainment, Disco Donnie Presents and many more.