Music licensing marketplace Songtradr this morning announced a $50 million Series D. The oversubscribed round — which features Regal, Aware Super, Perennial, Argo and Greencape — follows a $30 million raise last August, bringing the Los Angeles company’s total funding to north of $100 million.
The platform licenses music to high-profile names for advertising, films, TV, gaming and the like, including Disney, Netflix, Apple, Coca-Cola, Amazon and Google. It hosts songs from some 600,000 musicians/songwriters/rights holders.
The service hasn’t had any issue spending its funding to date. Earlier this month, it announced the acquisition of creative agency MassiveMusic. Other acquisitions made in the past year include Cuesongs, Song Zu, Pretzel and Tunefind.
The company says the new funding will go toward even more M&As, new products and an increase in global headcount. The company is headquartered in LA, but also has offices in Europe and the Asia-Pacific region.
Image Credits: Songtradr
“Songtradr is rapidly accelerating as we continue to develop our tech-enabled B2B music ecosystem and integrate our new acquisitions,” CEO Paul Wiltshire said in a press release. “Attracting such a blue-chip investor base into this round further endorses our vision of the future music industry in this rapidly evolving digital world, providing a strong foundation for the future.”
Wiltshire adds that the company saw a 100% y-o-y revenue growth for 2020.
https://ift.tt/3xB3LjE Music licensing marketplace Songtradr raises $50M https://ift.tt/3zJT5kr
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