Calabasas, Calif. – Music Mastermind, the developer of an online music creation platform, has raised $10.8 million in its second round of venture capital financing, led by Intel Capital and Liberty Global.
Angel investors contributed $4 million of the total amount.
Founded in 2007 by former Virgin Records head Matt Serletic and hedge fund manager Bo Bazylevsky, Calabasas, Calif.-based Music Mastermind plans to launch its flagship product later this year.
The company has spent three years developing SoundBetter, the audio processing suite behind its consumer music creation platform, which it says “eliminates the traditional effort required to make music, breaking down barriers to creativity and allowing anyone to instantly create, publish, and distribute their own music.”
The company previously raised $5 million in February 2010.