Metallica’s family investment firm, Black Squirrel Partners, has actively participated in a Series A funding round for Medallion, an innovative artist-to-fan platform designed to foster stronger connections between artists and their audiences. Founded in 2020 by members of the iconic rock band, Black Squirrel Partners joined a collaborative effort led by Dragonfly and Lightspeed Faction.
Alongside Metallica’s backing, the funding round included support from various prominent investors such as Coinbase Ventures, Infinite Capital, J17, The Chernin Group, Third Prime, and Zeal Capital. Medallion, under the leadership of former Songkick CEO Matt Jones, successfully secured $13.7 million in this round, as reported by Billboard.
This marks Metallica’s third notable venture in 2023 through Black Squirrel Partners, following strategic acquisitions in March and their involvement in a $5 million funding round for Word Collections in August.
Medallion, known for its direct-to-consumer platform, specializes in facilitating white-label fan experiences and fostering digitally native interactions between artists and their fans. The platform’s mission is to address the challenge faced by artists in establishing direct connections with only a fraction of their fanbase. With a team consisting of industry veterans from Songkick, Instagram, YouTube, and more, Medallion aims to unlock direct artist-to-fan connections.
This recent funding infusion will enable Medallion to expedite its ambitious technical roadmap, building on its track record of developing groundbreaking technology for major artists. Notable investors in Medallion’s previous $9 million seed funding round include Betaworks, POAP Ventures, Polygon Ventures, The Chernin Group, Red Light Ventures, and prominent figures like Mike Shinoda of Linkin Park and Tycho.
It’s worth noting that Metallica, known for its innovative use of technology and cryptocurrency, issued a warning to fans in December 2022 about cryptocurrency scams exploiting the excitement surrounding the launch of their album, 72 Seasons. The band has been targeted by scammers using social media impersonation and fake YouTube live streams, prompting Metallica to caution fans against falling victim to fraudulent schemes.
