Wavo Secures Financing from BDC to Deliver on Vision of Analytics-Enabled Music Industry

We’re excited to announce that Wavo has secured non-dilutive, quasi-equity financing from BDC’s Growth and Transition Capital division, allowing us to provide even better solutions to our 600+ music industry clients.

Together, Wavo and BDC will work to deliver on our vision of more predictable and scalable investments into music industry artists.

This partnership comes at a time when the music industry is experiencing a surge in growth driven by streaming and digital services, with mid-year US recorded music revenues up 27% compared to 2020. 

Yet despite this growth, the music industry has only started its digital transformation and many organizations are looking to leverage analytics to capture the benefits of this trend and deliver greater value for artists.

Wavo addresses this industry-wide transformation, providing music companies and their artists with a unique combination of expertise and technology solutions that enable confident, effective investments into developing and marketing artists.

Founded in 2011 by CEO Conor Clarke and CTO Gabriel Lespérance as a social platform for artists, Wavo has transformed into the largest B2B marketing and analytics agency for music, named one of Canada’s top Growing Companies for the second year in a row by Globe and Mail. 

In 2021, Wavo expanded beyond our Canadian headquarters with offices now in the US, UK and Singapore to become a truly international music company.

The investment from BDC will be used to support this growth as well as continue ongoing investment into machine learning and data teams. These teams helped Wavo launch a music analytics SaaS product in 2020, a self-serve complement to our managed services, which enable music businesses connect all their data in a single platform to make faster, more confident decisions.