Reverb.com – a marketplace for musicians to buy and sell gear – has completed a $25 million Series B funding round led by global growth equity investor Summit Partners. Launched in 2013, Reverb is closing out its second full year in business and is on pace to process more than $120 million in transactions in 2015. The company’s earlier investors include “Lean Startup” author Eric Ries, Rick Nielsen of Cheap Trick, and country music superstar Brad Paisley. The new investment will support the company’s international expansion strategy, key branding initiatives and continued technical innovation.
The Reverb.com consumer marketplace is comprised of a robust website and two mobile apps (iOS and Android), allowing users to create product listings, browse new and used gear, and compare historical pricing and sales data. Reverb also serves as a platform for education and musical exploration, hosting content that includes product reviews, demo videos, gear histories and artist interviews.
“At Summit, we look for experienced founders and companies with strong fundamentals making a profound impact on their markets,” said Summit Partners Principal, Andrew Collins, who will join the company’s Board of Directors. “Reverb checks all of those boxes. We believe that its value to musicians, dealers and collectors is clear and proven; its customers are raving fans; and, as the sole institutional investor in David’s prior company, optionsXpress, we could not be more confident in Reverb’s leadership. We are thrilled to be their partner for this next phase of growth.”