Music education technology company Tonara has raised $5 million in a financing round led by Baidu, China’s leading search engine, and Carmel Ventures. Baidu’s investment and partnership will accelerate Tonara’s growth, particularly in China, the world’s largest music education market. Existing investors also participated in the round. Baidu’s senior director of corporate development Peter Fang joins Tonara’s board.
Tonara CEO Guy Bauman said, “Tonara's mission is to redefine the way music is taught, learned and practiced around the world by bringing music education into the digital age. We are excited by Baidu's endorsement of Tonara's vision and potential. The new funding will enable us to scale and reach music students and teachers globally. We’re thrilled to cooperate with Baidu in reaching out to the Chinese audience"
Fang said, “Tonara has consistently pushed the envelope when it comes to developing innovative and revolutionary technology. Not only is there a huge global market for Tonara's music education platform, a large piece of which is China, but we see many other possible applications for Tonara's technology. We are certain that Tonara’s future will be extraordinary, and we’re proud to be a part of it.”
Carmel Ventures general partner Rina Shainski said, “Music education hasn't changed for hundreds of years. We are delighted to support Tonara in its mission to redefine the huge global market of music education by creating a user-friendly music practicing experience on tablets for students and teachers."
The company currently offers two apps: Tonara, a fully digitized sheet music platform for professional and amateur musicians which, follows played music, flips the pages during rehearsal and performance, and offers an extensive catalog of scores. Following professional artists’ onstage success with Tonara, the Wolfie app for teachers and students was launched in 2014. Based on the same proprietary technology, Wolfie is transforming music education by using an iPad to create an interactive and engaging music learning experience. Wolfie supports teacher-student communication and features an extensive catalogue of music lessons organized by levels.
Tonara and Wolfie’s music catalog is constantly expanding thanks to partnerships with music publishers. The company will be announcing new partnerships with major music publishers in the coming months, further developing the catalogue, and cementing Tonara’s leadership as the provider of the best apps for musicians - whether they are students, teachers, or world-class performers.
Published by Globes [online], Israel business news - www.globes-online.com - on April 14, 2015
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