BeatBread Limited completed its first seed round Feb. 9, bringing the total raised for the music funding platform to more than $34 million.

San Francisco-based finance technology company Deciens Capital led the round, which also involved investments from San Francisco-based Afore Capital Management, Mexico-based Angel Ventures Inc. and Charleston, S.C.-based IAG Capital Partners.

“We are excited to team up with Deciens and other experienced investors to continue to grow and offer more access to flexible capital to more artists,” BeatBread Chief Executive Peter Sinclair said in a joint statement with Deciens Capital. “This investment will allow us to expand our feature set and will extend the already large capital pool in BeatBread’s invite-only Investor Network.”

Founded in November 2020, Pasadena-based BeatBread’s mission is to enable artists to access capital while controlling their careers and retaining ownership of their music. To date, the company has made more than 300 advances to artists and labels ranging from $1,000 to $2 million.

“BeatBread’s next-generation, data-driven platform presents tremendous commercial opportunity because it provides fast, customizable, and transparent funding choices to artists,” added Deciens Partner Ishan Sachdev.

To receive funding from BeatBread, contracted artists exchange a “limited” share of existing catalog streaming and airplay revenues or advances against unreleased music. BeatBread doesn’t restrict how funds are used and allows the artists to set the repayment period. The company also does not touch touring, publishing, synch and merchandise revenue streams.