Audio file management startup Myxt, founded by ex-Google and Stripe developers, raises $2m – Music Business Worldwide

Myxt, an audio file management platform for creators, has raised $2 million in a seed funding round led by Accel Ventures and Quiet Capital.

The firm was founded in 2018 by Chris Wetherell and Sheena Pakanati, early engineers for tech companies including Google, Stripe, and Twitter. 

Myxt describes itself as a collaborative workplace app for audio creators. It lets users store, share and work on audio files seamlessly, intuitively, and across multiple devices. Its tools allow creators to collaborate online to export videos and enhance tracks with AI.

“Chris and Sheena are outstanding engineers with experience building products people love including Google Reader, Twitter, and Stripe. Workflow software such as Figma and GitHub has enabled tremendous increases in productivity for designers and software engineers respectively. Audio creators have been left behind and Myxt is here to help them catch up,” said Dan Levine, an early investor in Myxt and Partner at Accel.

Available on web, iOS, and Android devices, Myxt offers a single location to stream tracks, organize files, and backup their library.

Users of Myxt can set up inboxes to receive and organize inbound tracks from others and all tracks can be automatically transcribed and annotated with notes or time-stamped comments.

Myxt says its tools help ease industry-wide challenges such as version tracking, transferring large files, and visibility into who has viewed or downloaded a track.

“Imagine if someone designed file sharing for artists as a starting point, rather than an afterthought. Millions of artists need to stream their files and be able to work on them in increments down to the millisecond.”

Chris Wetherell, Myxt

Tracks on Myxt can be shared with collaborators and followers, allowing them to react, add notes, or provide time-stamped feedback on any file. The platform also offers shared spaces called Teams for creators and collaborators to work on a project.

Myxt says it was built to answer a lack of file-sharing options for audio formats.

“Imagine if someone designed file sharing for artists as a starting point, rather than an afterthought. Millions of artists need to stream their files and be able to work on them in increments down to the millisecond,” said Chris Wetherell, Myxt co-founder and CEO. 

“Myxt was born out of the need for an intuitive tool that understands how collaboration works in audio. We first set out to confront file storage and sharing, and have enhanced it with other AI and audio tools to make it as easy as possible for artists to focus on their work.”

The investment from Accel and Quiet Capital will help Myxt develop its centralized audio workplace and help expand its community of creators.

Accel, a Palo Alto-based venture capital firm, has over $20 billion worth of funds under its management globally, according to Fintech Global.

Formerly Accel Partners, the company has made a number of investments in the music industry. In 2011, it joined Spotify’s $100 million fundraising alongside DST Global, and Kleiner Perkins Caulfield & Byers.

It led the series A and series B fundraisings for Canada-born online security firm 1Password. Last year, it also participated in the same firm’s $620 million series C round.

Meanwhile, Quiet Capital focuses on seed and early-stage investments in the technology sectors. In July 2021, the venture capital firm participated in a $4.2 million seed funding round for music marketing platform Breakr.

Music Business Worldwide