Popdust, a pop music website, has announced completion of a $4.5 million Series A Preferred Share fund raise led by New Enterprise Associates. RRE Ventures, SoftBank Capital, and Project A Ventures, along with other individual investors, also participated in the fund raising.
Since launching in 2011, Popdust has already reached nearly 1 million unique monthly visitors. The management team is led by new CEO Hugh Panero, former CEO and Founder of XM Satellite Radio; David Wade, Co-Founder/President; and Co-Founder/Editor-In-Chief Craig Marks, former top editor of Spin, Blender and Billboard.
Popdust investors include Lerer Ventures, New Enterprise Associates, Softbank Capital and RRE Ventures.