Songtradr Raises $US50M in Series D Funding Round
The new capital will fuel growth and scale Songtradr's data and technology divisions
LOS ANGELES, June 21, 2021 /PRNewswire/ -- Songtradr, the world's largest B2B music licensing marketplace, announced today the completion of its oversubscribed US$50M Series D funding round bringing the company's total funding to date to over US$100M, valuing the company at over US$300m.
"Songtradr is rapidly accelerating as we continue to develop our tech-enabled B2B music ecosystem and integrate our new acquisitions. 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," said Paul Wiltshire, CEO of Songtradr. "Songtradr experienced over 100% revenue growth year over year in 2020 and we are on track to achieve this again in 2021."
This funding round included Australian based institutional investors Regal, Aware Super, Perennial, Argo and Greencape and a follow-on investment from Founder/CEO of Wisetech Global (ASX: WTC), Richard White. The company's previous Series C round of US$30M was completed in August 2020.
"I have watched Songtradr evolve rapidly over the last 3 years. During this time, Paul and his team have not missed a beat in delivering on their vision, which is impressive by any standard," said Richard White, Founder and CEO of Wisetech Global. "Songtradr has amplified its strong organic growth and ambitious product roadmap with a highly impactful M&A strategy that further enhances longer term growth potential. I believe the company now has the scale, global footprint and talent to accelerate its plan to transform the music industry."
Since completion of the Series C funding round, Songtradr has executed an M&A strategy to reinforce its ecosystem with the world's leading creative and tech-focused music companies, through the world's largest creative music agency, MassiveMusic, as well as Cuesongs, Song Zu, Pretzel and Tunefind.
Songtradr is a global company headquartered in Los Angeles with offices across Europe and the Asia-Pacific region, specializing in distributing and licensing music to a range of blue-chip clients including Disney, Netflix, Apple, Coca-Cola, Amazon and Google. The company's ecosystem connects its 600,000+ artists, songwriters and music rights owners to a B2B marketplace of music buyers such as brands, advertising agencies, streaming platforms, SVOD networks, film, TV, gaming companies and influencers.
ABOUT SONGTRADR:
Songtradr is the largest B2B music licensing marketplace in the world, providing music creators and rights owners with a complete tech-enabled solution for rights management and monetization while providing B2B music users such as brands, advertisers, filmmakers, SVOD and broadcast networks, gaming, streaming and social media platforms with highly-efficient, AI guided access to music.
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SOURCE Songtradr
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