Songtradr, an online music licensing marketplace, secured US $50 million in a Series D funding round, announced on June 21, 2021. The lucrative round featured participation from Regal, Aware Super, Perennial, Argo, and Greencape. This series D investment comes just months after their series C round in August last year, bringing Songtradr’s total funding to a little over US $100 million.
Purpose of the investment
The company states that the new funding will be focused on even more mergers and acquisitions, new and innovative products, and an increase in their global headcount. The company is headquartered in Santa Monica but also has offices in Europe and the Asia-Pacific region.
Trends and growth in the industry
Songtradr is a fast-rising platform that licenses music to high-profile names for advertising, television shows, films, gaming, and other similar fields, including Netflix, Disney, Coca-Cola, Apple, Amazon, and Google. The startup hosts songs from more than 600,000 musicians, songwriters, or rights holders. Songtradr has, so far, utilized its resources and funds raised to the optimum level. Earlier this month, the startup announced the acquisition of creative agency MassiveMusic. Other acquisitions made in the past year include Song Zu, Cuesongs, Pretzel, and Tunefind.
Founder’s Insight
According to founder and CEO of Songtradr, Paul Wiltshire, “Songtradr is rapidly accelerating as we continue to grow our tech-enabled B2B music ecosystem and integrate our new acquisitions. Attracting such a blue-chip investor base into this round further supports our vision of the future music industry in this rapidly evolving digital world, providing a strong foundation for the future.” Paul Wiltshire also adds that the company witnessed a 100% year-on-year revenue growth for 2020.
Company Profile
Songtradr is an online marketplace that facilitates music licensing for TV shows, films, ads, applications, and other media. The startup delivers a full suite of services, including content and rights management, fan engagement, and distribution to all digital verticals. The company’s platform empowers music-makers with a comprehensive set of instruments and services to professionally manage careers, while it’s an automated marketplace and talented music supervisors streamline the music discovery and licensing process.
Founded in 2014 by Paul Wiltshire, Songtradr has its headquarters in Santa Monica, California, United States. The startup consists of a passionate group of musicians, thinkers, builders, coders, business professionals, and artist advocates with a mission to revolutionize the process of exchanging music rights and provide unparalleled value for the creative classes.
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