Music Mastermind Gets $4.85 Million For Music Creation Tools

Music Mastermind, which is building tools designed to let amateurs put together and then share tracks, has raised $4.85 million in a first round of funding. The company — which is led by former Virgin Records CEO Matt Serletic — says it will unveil “a series of evolving console, mobile and social gaming products” this year.

Music Mastermind showed off one of its products for the first time at CES this year, and according to an LA Times account, users sang into their computers and Music Mastermind provided the backup — and a recording of the ultimate creation. It sounds conceptually similar to the much-mocked Songsmith software that Microsoft (NSDQ: MSFT) released at CES in 2008.

Music Mastermind says it will use the new cash to “further product development and finalize strategic release plans.” The company says it expects to double its staff of 15 by mid-year. A representative tells us the cash comes from unnamed angel investors. More in the release.