Short Take: Tonos lands $10 million in VC

Online artist development company Tonos has raised $10 million in venture capital. Investors include Softbank, whose managing director, Carl Rosendahl, will be on Tonos' board; Sequoia Capital; and former Warner Bros. chairman Bob Daly. Tonos will use the funds to launch in January a software system that helps musicians collaborate with professionals. The company--founded by songwriters Carole Bayer Sager, David Foster and Kenneth "Babyface" Edmonds--attempts to develop amateur musicians into recording artists through mentoring.