London - Slicethepie, a music discovery site where fans can invest in the recording of albums by their favorite artists, announced on Monday that it has raised $2 million in its third round of venture capital financing.

Investors included Microsoft UK director Mark Taylor, Mears Group chairman and CEO Bob Holt, and Gavin Breeze, founder of Datacash.

London-based Slicethepie on Monday also released its first fan-financed album, from U.K. act the Alps.

The company said that since its launch nine months ago, fans have submitted over 600,000 independent music reviews of songs posted on Slicethepie.

So far, 13 artists among the 8,000 using the service have been financed to record and release albums; if these albums go on to sell over 1,000 copies, users of the site who invested in that band will receive a portion of the profits.

The company said it will use the new financing to enhance its offering and launch new digital services for artists and record labels.

Related Links:
http://www.slicethepie.com