Sherry Saeedi, CEO and founder at Verswire, a VC incubator for artists that provide label services … [+]
Sherry Saeedi’s Verswire isn’t just another record label—it’s a movement. By combining venture capital backing with artist development, Saeedi and her partner—Mark Hoppus (Blink-182), Pete Wentz (Fall Out Boy), and Nick Lippman (Matchbox Twenty’s manager)—are challenging the industry’s status quo, offering musicians a fairer, more equitable path to success.
With notable investors E.O.A. Productions and idobi Radio, and additional funding from investors like Warped Tour founder Kevin Lyman and Foo Fighters tour manager Gus Brandt, Saeedi raised $12.3 million. She also signed high-profile artists Beauty School Dropout and Girlfriends.
Verswire’s hybrid artist development and investment platform is poised to disrupt the traditional music industry model and empower artists to take control of their careers and finances.
Sherry Saeedi’s Verswire: Pioneering A Fairer Music Industry
Saeedi, a 32-year-old Canadian-Iranian woman, is the founder and CEO of Verswire, a venture capital incubator for the music industry that provides label services. With a “Shark Tank-meets-record label” approach, Verswire has achieved trailblazing success, fostering the breakout of alt-rock band Beauty School Dropout, their first-ever signing.
Launched in May 2022, Saeedi and her partners are dedicated to opening doors for women and minorities in the industry. “My initial interest in joining Verswire stemmed from my passion for driving substantial innovation within the music industry,” said Lippman, a partner at Verswire and at Lippman Entertainment. “I saw its potential as a transformative home that could fundamentally reshape the relationships between artists and labels. Our objective is to cultivate partnerships that would not only foster artists’ creative development but also offer significant financial benefits.”
In December of 2023, Verswire announced a $12.3 million investment from E.O.A. Productions and idobi Radio, with additional funding from other investors, to launch a new publishing arm with Kobalt Music Group in 2024. The company also announced the signing to its label roster alt-rock duo Girlfriends, composed of Travis Mills and Nick Gross.
“In the realm of innovation, disruption is the currency of progress,” said Nicole A. Parke of E.O.A. Productions and an investor. “E.O.A Productions’ investment in Verswire isn’t merely a financial decision; it’s a testament to our unwavering belief in Sherry Saeedi, and her ability to excel over adversity in this industry,”
“Amidst the discord of uncertainty in the music industry, E.O.A Productions aligns with Verswire; As its foundational makeup empowers artists to reclaim their creative journey, forging a new era where talent meets entrepreneurship, and passion fuels prosperity,” said Enoch K. Osei-Acheampong of E.O.A. Productions and also an investor.
Saeedi started her career in music management at the age of 16 and later co-founded Veeps, a ticketing platform. During the pandemic, she pivoted to streaming live and subsequently sold her company at a $30 million valuation. Her experiences in the music industry led her to recognize the need for a new approach to artist development and funding.
“Artists no longer can rely on $10 million in record sales to buy a home and support a home,” Saeedi sighed. Label deals don’t leave artists enough income or provide resources to be more successful. The traditional split is 85% record label and 15% artists is lopsided. “Record labels have [all] the power! You couldn’t release music without them,” she lamented.
Verswire offers a unique partnership model for artists, making a tailored equity investment in their company while ensuring they retain majority ownership of their masters. As a development incubator, Verswire empowers emerging and established artists alike with essential resources and tools, and top-tier mentoring from industry leaders,
Sherry Saeedi Overcomes Skepticism And Music Industry Resistance
Saeedi faced her share of hurdles while spearheading the disruptive VC model at Verswire. She encountered considerable skepticism from investors and industry professionals alike when introducing her innovative “Shark Tank-meets-record label” concept.
The music industry, often steeped in tradition and resistant to change, made convincing others to embrace a new way of doing things a significant challenge.
“The music industry tends to be rather archaic, where we’re the last to adopt or the last to want to change,” Saeedi observes. She attributes this resistance to a fundamental human aversion to change, coupled with the intricate and interconnected nature of the industry. “It’s hard to change because there’s a lot…it’s an intricate tapestry…people in general, like the human species, don’t like change.”
However, Saeedi’s unwavering belief in her vision and her determination to “do good with a good heart” propelled her forward. She persisted in seeking out investors who shared her passion for empowering artists and reshaping the industry.
Saeedi recounts, “I kept going, I believed in myself…borderline be delusional that you got it, that you…I just think that if you work hard with a good heart, you are unstoppable.”
Her resilience paid off as Verswire successfully secured substantial funding and gained traction in the industry. Saeedi’s story serves as an inspiration for aspiring entrepreneurs and a testament to the power of perseverance and passion in overcoming obstacles and driving transformative change within the music industry.
What lessons can you glean from Saeedi’s fearless approach to challenging the status quo and creating a fairer and to your industry?
