About Sofar Sounds
Sofar Sounds is a company based in London (United Kingdom) founded in 2010 by Dave Alexander, Rafe Offer, and Rocky Start. It operates as a On-Demand Services. Sofar Sounds has raised $52.46 million across 6 funding rounds from investors including Virgin, Battery Ventures and Union Square Ventures. The company has 203 employees as of December 31, 2023. Sofar Sounds has completed 1 acquisition, including Seated. Sofar Sounds offers products and services including Live Music Events. Sofar Sounds operates in a competitive market with competitors including This Is Good Music, The Engine Shed, Soundclub, Gigco and DefLeppard, among others.
- Headquarter London, United Kingdom
- Employees 203 as on 31 Dec, 2023
- Founders Dave Alexander, Rafe Offer, Rocky Start
- Stage Minicorn
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Sectors
Business Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Sofar Sounds Limited
- Date of Incorporation 14 Mar, 2011
- Jurisdiction LONDON, UNITED KINGDOM
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Annual Revenue
$16.9 M0as on Dec 31, 2023
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Net Profit
$-23.9 M0as on Dec 31, 2023
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EBITDA
$-23.83 M0as on Dec 31, 2023
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Total Equity Funding
$52.46 M (USD)
in 6 rounds
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Latest Funding Round
$13.3 M (USD), Series B
Jan 31, 2021
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Investors
Virgin
& 4 more
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Employee Count
203
as on Dec 31, 2023
- Investments & Acquisitions
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Products & Services of Sofar Sounds
Sofar Sounds offers a comprehensive portfolio of products and services, including Live Music Events. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Live music concerts are organized in unique venues.
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Funding Insights of Sofar Sounds
Sofar Sounds has successfully raised a total of $52.46M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $13.3 million completed in January 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series B — $13.3M
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First Round
First Round
(21 Dec 2012)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2021 | Amount | Series B - Sofar Sounds | Valuation |
investors |
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| Apr, 2019 | Amount | Series B - Sofar Sounds | Valuation | Battery Ventures , Union Square Ventures | |
| Jul, 2016 | Amount | Angel Round - Sofar Sounds | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Sofar Sounds
Sofar Sounds has secured backing from 5 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Virgin, Battery Ventures and Union Square Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in technology companies are conducted globally by Battery Ventures.
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Founded Year | Domain | Location | |
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Venture capital firm focused on blockchain, wellbeing, and multiple sectors
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Founded Year | Domain | Location | |
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Venture capital investment and support for founders in technology and health sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Sofar Sounds
Sofar Sounds has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Seated. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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A platform for early ticket access to live events is offered.
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1999 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Sofar Sounds
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Sofar Sounds Comparisons
Competitors of Sofar Sounds
Sofar Sounds operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as This Is Good Music, The Engine Shed, Soundclub, Gigco and DefLeppard, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform for hosting gigs & selling tickets
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| domain | founded_year | HQ Location |
Hosts live music, club nights, comedy events, and venue hire in Lincoln.
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| domain | founded_year | HQ Location |
Functions as an app-based platform for booking tickets to live music events.
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| domain | founded_year | HQ Location |
Blockchain-based platform offering ticketing solutions for live events
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| domain | founded_year | HQ Location |
Rock band offering music releases, tours, news, and merchandise sales.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Sofar Sounds
Frequently Asked Questions about Sofar Sounds
When was Sofar Sounds founded?
Sofar Sounds was founded in 2010 and raised its 1st funding round 2 years after it was founded.
Where is Sofar Sounds located?
Sofar Sounds is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Sofar Sounds?
Rafe Offer is the current CEO of Sofar Sounds. They have also founded this company.
Is Sofar Sounds a funded company?
Sofar Sounds is a funded company, having raised a total of $52.46M across 6 funding rounds to date. The company's 1st funding round was a Angel Round of $9.3M, raised on Dec 21, 2012.
How many employees does Sofar Sounds have?
As of Dec 31, 2023, the latest employee count at Sofar Sounds is 203.
What is the annual revenue of Sofar Sounds?
Annual revenue of Sofar Sounds is $16.9M as on Dec 31, 2023.
What does Sofar Sounds do?
Intimate concerts and music events are organized by Sofar Sounds in unique, often secret locations worldwide. Artists and audiences are connected through live performances in various cities. The focus is placed on creating meaningful experiences within the entertainment sector, emphasizing discovery of new music and artists.
Who are the top competitors of Sofar Sounds?
Sofar Sounds's top competitors include This Is Good Music, Niteworks and Gigco.
What products or services does Sofar Sounds offer?
Sofar Sounds offers Live Music Events.
How many acquisitions has Sofar Sounds made?
Sofar Sounds has made 1 acquisition, including Seated.
Who are Sofar Sounds's investors?
Sofar Sounds has 5 investors. Key investors include Virgin, Battery Ventures, Union Square Ventures, Octopus Ventures, and Richard Branson.
What is Sofar Sounds's valuation?
The valuation of Sofar Sounds is $88.7M as of Jan 2021.