The new capital will fund global growth and acquisition strategy
LOS ANGELES, Aug. 24, 2020 /PRNewswire/ -- Songtradr, the global B2B music rights and licensing marketplace platform, announced today the completion of its Series C funding round, raising US$30M, valuing the company at US$165M. With this investment, Songtradr will accelerate its global expansion plans, product development and fund key acquisitions, building out its ecosystem and further enriching its data capabilities. Songtradr technologies are designed to simplify and enhance the overall music licensing experience.
"Songtradr is a beneficiary of the significant acceleration of digital adoption resulting from the pandemic. It is an unprecedented time and our focus has been on delivering value to our community of artists, composers and music licensees," said Paul Wiltshire, CEO of Songtradr.
"This capital round will be utilized to execute our long term strategy of developing a data-informed music rights ecosystem that delivers greater efficiencies to the music licensing and rights management processes, and to expand our product offering further."
The Series C capital raise was led by the St. Baker Australian family office and included a number of other prominent Australian family offices as well as several existing Songtradr investors. The company's previous Series B round of US$12M was completed in early 2019 and the company has experienced revenue growth in the first half of 2020 of 160% compared to the same period last year.
Songtradr is a global company headquartered in Los Angeles with offices across Europe and APAC connecting the platform's 500,000+ Artists, songwriters and music rights owners to a B2B marketplace of music users such as brands, advertising agencies, streaming platforms, SVOD networks, film, TV and gaming companies.
ABOUT SONGTRADR:
Songtradr is the largest, cleared-for-licensing, music marketplace in the world, connecting our global community of artists to streaming platforms, Film & TV, advertising, games, brands, and more. We are a passionate group of musicians and music enthusiasts with a simple mission; to revolutionize the process of exchanging music rights.
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