STOCKHOLM, June 15, 2020 /PRNewswire/ -- Tracklib (www.tracklib.com), the world's first and only service for quickly finding and legally clearing original music for sampling, today announced it has raised $4.5M investment from a host of new investors including Eelko van Kooten, Founder of international dance label Spinnin' Records's—which he sold to WMG in 2017 for north of $100M EUR—as well as previous investors including Sony Innovation Fund. Tracklib most recently raised $1.7M from Sony Innovation Fund and WndrCo in May 2019.
Tracklib will use these funds to increase its music catalog and user base following a major update of the service last month, which included a completely revamped user interface and an upgrade to a subscription model. Tracklib's extensive 100k+ catalog of sample-friendly original music ranges from 1928 to 2020 and consists of everything from Mozart to Isaac Hayes. Many artists have released songs with Tracklib samples—including Lil Wayne, DJ Khaled, Phantogram, Mary J. Blige—and J. Cole's 5x Platinum single "Middle Child" which was built around a sample from Tracklib.
"To have closed this incredible round right on the heels of fully rebuilding and relaunching our service--when we haven't been in the same room together for months--is as thrilling and exhausting as you can imagine during such a tumultuous time in the world," said Pär Almqvist, founder and CEO of Tracklib. "None of this could have been achieved without a stellar and tireless team, the outspoken support from the global music community, and the continued confidence of Sony Innovation Fund, Jörg Mohaupt and other supportive investors. And today, we could not be prouder to add Eelko's experience, strategic insights and expertise to our company."
"As a former music publisher and label founder, I have witnessed first-hand both the artistic benefits and business challenges of sampling, and long admired Tracklib as they have made automated sample clearance affordable, accessible, legal, and lucrative on a global scale," said Spinnin' Records's Founder Eelko van Kooten. "I am pleased to join Pär and the team at this exciting time in their journey. Tracklib is the perfect place for creatives to get inspired and have samples cleared."
Tracklib is the world's first and only digital platform for legally clearing samples, solving a big problem in the music industry: a vast majority of all sampling is done illegally because of the complexities and high cost usually involved with sample clearance. Tracklib's library consists of over 100,000 original recordings—everything from Mozart to Isaac Hayes—and can be licensed for sampling for as little as $50.
Tracklib's revolutionary solution has been embraced by artistic and industry giants such as Ludacris, Questlove, Jazzy Jeff, and Zaytoven, who have publicly praised the company. Artists who have released songs with samples from Tracklib include DJ Khaled, Mary J. Blige, Lil Wayne, BROCKHAMPTON, Phantogram, and J. Cole also used a Tracklib sample for his 5x Platinum single "Middle Child". Tracklib launched in 2018 and is headquartered in Stockholm, Sweden, with representation in New York City and London. For more information, visit www.tracklib.com.
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