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Topspin Media, a startup launched by former Yahoo Music General Manager Ian Rogers and widely regarded as digital-music maverick, has raised a new round of founding from Denver Boulder, Colorado-based VCs at The Foundry Group. The news was announced on the Foundry Group blog by partner Ryan McIntyre, but the funding amount wasn’t disclosed. The company recently came out stealth and was featured in Billboard magazine. Topspin also raised an undisclosed amount of funding from Redpoint Ventures.
So why are VCs all hot and heavy about this company? The shift to downloading music has boiled away the fat in the industry. Now all you need is an artist, a recording studio and an audience willing to pay for the artist’s music. But someone still needs to handle the marketing and distribution of that music across the web. That’s where Topspin comes in: The company is creating an enterprise-class software platform to track, analyze and monitor music sales and fan response.
As Hypebot, an influential music industry blog notes, “Topspin appears to be breaking through the clutter of disjointed widgets and apps.” And that makes selling easier.