Global Music Licensing and Rights Management Platform Raises $4 Million Funding Round
SANTA MONICA, California, Jan. 25, 2018 /PRNewswire/ -- Songtradr, the fastest-growing music licensing platform in the world, today announced that it has raised a Series A capital raise of US$4 million to support the company's ongoing expansion. This latest round of funding brings Songtradr to a total capital raise of US$9 million.
Songtradr is a fully-automated, worldwide marketplace that delivers commercial music to tastemakers, brands, apps, TV and filmmakers. Since its inception, the platform has rapidly grown to host more than 140,000 artists and catalogs from 150+ countries.
"In this past year, we've dramatically expanded our market reach and capabilities, established industry-first features, and have created numerous key partnerships that have allowed us to gain brand-recognition and trust," said Paul Wiltshire, Founder and CEO of Songtradr. "The completion of our Series A funding is an exciting step that will further support our progress and empower our innovation in the music industry."
The lead investor in the round was Richard White, CEO and founder of Australian-based WiseTech Global (ASX:WTC, market cap circa A$4B). White has over 30 years experience in software development, embedded systems and business management.
"I rarely invest outside of my interest in WiseTech Global, however Songtradr's truly powerful and unique business model is reshaping the entire landscape of music licensing and rights management," said White. "I trust in Paul Wiltshire's leadership and vision and in his ability to grow Songtradr and expand it's reach and product depth, whilst I continue to grow WiseTech Global."
Songtradr connects music creators globally to film, TV, brands and other media in a fully-automated, worldwide marketplace for music licensing. Music creators maintain control of their rights and are empowered with the tools they need to monetize their music assets. Using Songtradr's proprietary search and variable license pricing technology, music supervisors, brands, filmmakers and other creatives can now easily license music from the world's best emerging artists, bands and composers.
About the Investment
This investment round was arranged by Miles Sterrick of boutique Sydney advisory firm Black Bamboo.
Contact: Samantha Tannenbaum, email@example.com