Songtradr Completes $12 Million Series B Capital Raise to Fund Rapid Global Growth
March 21, 2019, SANTA MONICA, Calif., — Songtradr, the largest music licensing platform in the world, today announced that it has completed its Series B capital raise of US$12 million to support the company’s rapid global growth and product development. This latest funding round brings Songtradr’s total funding to date to US$21.5m.
Songtradr is the only fully-automated, open marketplace for music licensing in the world with over 400,000 artists and catalogs from 190+ countries, experiencing year-over-year revenue growth of over 400 percent.
“The completion of our Series B funding is an exciting step that allows us to further implement our growth and acquisition plans to create the world’s most intelligent, frictionless licensing experience for both music creators and music licensees,” said Paul Wiltshire, founder and CEO of Songtradr.
The lead investor in the round is Richard White, CEO and founder of Australian-based WiseTech Global (WTC.AX, market cap circa A$7B). White, a former musician himself, has over 30 years of experience in software development, embedded systems and business management.
White said: “Songtradr is poised to be a global leader in music licensing and I’m delighted to support this next phase. I have been watching the growth of Songtradr as an early investor for some time, and I’m keen to help accelerate its growth further as they unfold their product roadmap.”
Wiltshire said: “We’re committed to simplifying the process of music licensing for creators and licensees across the globe with a platform that unlocks the potential of any artist and provides the most comprehensive, data-driven music offering.”
Songtradr connects artists to film, TV, brands and other media in a fully-automated, worldwide marketplace for music licensing. Music creators control their content and rights and have the ability to monetize their music through licensing to all forms of media, including distribution to all major streaming platforms. Using Songtradr’s proprietary technologies, music supervisors, brands, filmmakers and other creatives, can easily license music from a vast community of artists, bands, record labels and publishers.