Last month, Drip—the platform that created music subscription services for independent labels and artists—announced that they were shutting down. They promised to pay artists and labels in full before going away. Now, the company has been saved thanks to Kickstarter, Billboard reports. Drip is Kickstarter’s first-ever acquisition.

Kickstarter shared a statement titled “Drip Joins Kickstarter,” which outlined the company’s reasons for acquiring the company.

Many of us at Kickstarter have admired Drip over the years. At heart, we’ve been on similar paths. Strengthening the bonds between artists and audiences, and fostering the conditions for a more vibrant creative culture is at the core of our work at Kickstarter, too.

Drip was co-founded by Sam Valenti IV (who also founded Ghostly International) and Miguel Senquiz. In Valenti’s announcement following the acquisition, he revealed that Senquiz will join the Kickstarter team.

In the past, Drip worked with Sub Pop, Jagjaguwar, Secretly Canadian, Dead Oceans, Fool’s Gold, Stones Throw, Domino, Mad Decent, OWSLA, and more.