Soundation secures $500k in angel investment, adds Adam Hasslert as CEO.

Soundation, a Stockholm, Sweden-based startup providing an online platform for music recording, announced adding $500k in capital investment.

The money comes from a range of new and existing angel investors, including Adam Hasslert, Niklas Hellberg, Johan von Kantzow and Kaj Af Kleen. Adam Hasslert also becomes CEO of the company.

Soundation, founded in 2009 by the music producer Bil Bryant, developed an online recording studio which is accessible on a subscription model. The solution has about 75,000 monthly active users, primarily in the US, and makes about SEK 2.4M ($250k) in revenues as for 2017.