Introduction
Yousician, a Helsinki-based music learning and playing software startup, has announced a successful Series C funding round worth $28 million, bringing their total fundraising to over $78 million. Founded in 2011, Yousician has quickly become one of the world’s leading musical training solutions, boasting over 6 million users across the globe. The latest funding round is a testament to Yousician’s explosive growth rate, which was further catalyzed by the shift to digital learning due to the ongoing COVID-19 pandemic.
Yousician’s Story
Yousician is a Helsinki-based startup that was founded in 2011 by Mikko Kaipainen and Chris Thür. Mikko, the CEO, previously founded music education startup Symusic with Bang & Olufsen. Meanwhile, Chris is an experienced entrepreneur who has previously founded Aeria Gameplay, an entertainment network. The duo was inspired to create Yousician to make learning instruments easier, more enjoyable, and more accessible for everyone.
Yousician quickly gained traction, and since its launch, it has seen tremendous growth in user engagement and revenue. The company has grown rapidly, expanding its team of more than 100 professionals, and has established a presence in over 20 countries.
Yousician’s Growth
Yousician continues to experience strong growth. According to the startup’s co-founder Chris Thür, Yousician has seen a 50% increase in active users during the pandemic, reaching 6 million users each taking thousands of lessons every day. This engagement has translated into additional revenue sources for Yousician, most notably from the introduction of the Yousician Premium offering — the company’s most popular product.
The massive influx of users and revenue has enabled Yousician to expand its influence within the music education industry. The company has expanded its offering to include a variety of user-friendly applications, such as the recently launched Music Academy. The online program gives users access to mentors and guided lessons, making it easier than ever to learn an instrument.
Investors Take Notice
Yousician’s tremendous growth has attracted the attention of investors. In July 2020, the startup announced a successful series C funding round where they raised $28 million, bringing total funding to over $78 million. The round was led by the venture capital firm Atomico, with additional participation from the venture capital firm Dawn Capital and existing investors including Creandum, VC Foton, Sakura Ventures, and Novator Partners.
What’s Next for Yousician?
The additional capital will enable Yousician to expedite its planned product development, as well as expand to new markets and regions. The company stated that the focus will be to further increase user engagement and growth, with the addition of new features, better user experience, and additional content and instrumental support.
I. Yousician’s Story
Yousician was founded in 2011 by two experienced entrepreneurs, with a mission to make instrument playing more accessible to everyone. Since then, they have grown rapidly, expanding their team and user base, and offering a variety of applications to cater to users.
II. Yousician’s Growth
Yousician has seen immense growth over the years and in 2020, the company saw an unprecedented surge in active users of 50%. As a result of this growth, Yousician has been able to launch additional revenue streams, such as their Yousician Premium offering.
III. Investors Take Notice
Yousician’s growth and success has caught the eye of investors, leading to a successful series C funding round, where the startup raised $28 million. This news was met with excitement from the investors, and will enable Yousician to accelerate its product development and expand to more markets.
IV. Yousician’s Impact
Yousician’s impact on the music education industry has been tremendous. The company’s products and programs have made learning an instrument easier, more enjoyable, and more accessible than ever. Their apps have become extremely popular and it is inspiring to see how Yousician is inspiring a whole new generation of musicians.
V. What’s Next for Yousician?
The success of their Series C funding round means that Yousician will now have even more resources and support to accelerate product development. We are excited to see what Yousician comes up with next. With the additional capital, they will likely focus on increasing user engagement and expanding the breadth of features and content available.
Related FAQs:
Q. What is Yousician?
A. Yousician is a Helsinki-based music learning and playing software startup.
Q. What is their mission?
A. Yousician’s mission is to make learning instruments easier, more enjoyable, and more accessible for everyone.
Q. When was Yousician founded?
A. Yousician was founded in 2011 by Mikko Kaipainen and Chris Thür.
Q. Who led the Series C funding round?
A. The Series C funding round was led by venture capital firm Atomico, with additional participation from Dawn Capital and other investors.
Q. What is Yousician’s focus?
A. The company’s focus is to further increase user engagement and growth, with the addition of new features, better user experience, and additional content and instrumental support.
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