Sonicbids, an online community devoted to connecting musicians and promoters, has raised a first round financing of $4.5 million from Edison Venture Fund. The Boston-based company, which launched in 2001, plans to use the proceeds to expand operations, development, marketing, sales and its international presence. Sonicbids counts about 100,000 artists as members and that over 6,000 festivals, music conferences, and clubs from over 100 countries have used the site as a promotional vehicle. It also says that last year, it served as the stage for more than 30,000 deals between bands and music promoters. Release (PDF)
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