Fanattac, Inc. (pronounced fuh-nat-ik), an online social media platform that connects music fans and artists in a totally new way, announced today that it has closed a $1 million private placement and has launched the Fanattac beta at Ithaca College in New York.

Fanattac provides a unique social media experience for music lovers - an online music playground where fans will be able to interact with their favorite artists in an immersive and engaging social experience. Fanattac was created with fans and artists in mind, giving the biggest stars and the newest talent powerful tools to communicate directly with their fans and incentivize them to promote their music and their brand.

Fanattac CEO and co-founder Dan Faiman commented, "Music is no longer just a passive experience. You are engaged whether you're in your car or on your mobile device. Technology and music are colliding and Fanattac aims to be at the center of it all. Fanattac intends to become the ultimate online destination for fans to discover and share music, promote their favorite artists and build a social community in a way that only music can make possible."

Proceeds from this round of financing, which follows a previously closed angel round, are being deployed to support the initial beta release as the company plans to expand the platform to several other college campuses during the next few months. A full-scale public launch of Fanattac is slated for spring of 2012 and a mobile offering, which is currently in development, shortly thereafter.

The Fanattac private beta is currently available by invitation only.
About Fanattac

Fanattac gives music fans a home to enjoy music and content. It is a place to discover and connect with like-minded fans in an engaging social environment. Fanattac empowers fans to champion the music they love, as well as discover and support new up and coming acts through artist-driven incentives.