Smule, the company that has developed the I Am T-Pain application has raised $8 million in a third round of funding. The I Am T-Pain application has been downloaded over 700,000 times and there are in-app purchases that allow you to do karaoke to some of T-Pain’s hit songs like Bartender and Got Money. Smule has another application called Ocarina that has been downloaded over 1.65 million times. Smule expects to make about $3 million in revenues this year. Smule’s most recent funding round was provided by Shasta Ventures, Bessemer Venture Partners, and Granite Ventures. Smule has raised a total of $13.7 million.