Indie distribution and services platform Too Lost has secured a substantial strategic investment round.
The round is led by Charles Goldstuck‘s GoldState Music and private equity firm TA Associates, alongside a senior credit facility from Pinnacle Financial Partners.
GoldState and TA have each acquired significant stakes in New York-headquartered Too Lost as a result of the deal.
However, Too Lost confirmed in a press release today that its founders and management team will continue to lead the company and “remain its largest shareholders”.
Too Lost’s press release said: “This capital significantly expands Too Lost’s ability to invest in artist advances, catalog acquisitions, and the continued development of its proprietary technology platform.”
Sources suggest that the agreement values Too Lost at up to three times its annual revenue. Too Lost’s yearly turnover topped USD $100 million in 2025, up 130% YoY.
Founded in 2020, Too Lost serves more than 450,000 musicians, record labels, studios, investors, and platforms worldwide and enables global distribution across more than 480 music stores and services.
“We built Too Lost to give independent artists and labels the technology, services and support they need to grow on their own terms,” said Gregory Hirschhorn, co-founder and CEO of Too Lost.
“GoldState and TA share our respect for artist independence and our long-term vision for modernizing the music industry. Their deep experience and resources will allow us to invest further in our platform, expand globally, and put more capital and opportunity directly into artists’ hands.”
“The deep experience and resources of GoldState and TA will allow us to invest further in our platform, expand globally, and put more capital and opportunity directly into artists’ hands.”
Gregory Hirschhorn, Too Lost
Michael Berk, Managing Director and Co-Head of TA’s North America Services Group, said: “The independent music sector continues to grow faster than the broader industry, and creators are increasingly looking for sophisticated support and services without sacrificing ownership.
“Too Lost has built a differentiated platform that combines industry-leading technology with high-touch services, positioning the company well to meet artists’ evolving needs and benefit from the industry’s long-term growth.”
Charles Goldstuck, founder and Managing Partner of GoldState Music, said: “Too Lost has rapidly emerged as a trusted distribution and publishing partner, with a scalable platform that supports the creative music community, from emerging artists releasing their first works to the institutional investor actively managing a complex portfolio of music rights.
“We are excited to partner with Too Lost to help drive innovation, create greater value for artists, and deploy capital in support of their growth.”
“We are excited to partner with Too Lost to help drive innovation, create greater value for artists, and deploy capital in support of their growth.”
Charles Goldstuck, GoldState
GoldState Music recently announced a strategic partnership with Bridgepoint, targeting growth equity investments.
The firm has previously invested in another significant indie distribution/services company in music, Create Music Group.
Too Lost’s platform provides indie artists and labels with services including music distribution, publishing administration, white label distribution software, marketing support, flexible capital support, and advanced analytics.
JEGI LEONIS served as financial advisor to Too Lost in its latest raise, and Paul Hastings LLP provided legal counsel. Ropes & Gray LLP served as legal counsel to TA Associates.
Too Lost is headquartered in New York, with offices in Hollywood, California and Reykjavik, Iceland.Music Business Worldwide
