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 L.A., but also has offices in Europe and the Asia-Pacific region.
“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.
Leave a Reply