Santa Monica, California-based music licensing platform company Songtradr raises $12 million in Series B.
Santa Monica, California-based Songtradr, one of the largest music licensing platform companies in the world, announced it has raised $12 million in Series B funding to help support its rapid global growth and product development. Including this round of funding, Songtradr has raised $21.5 million.
Songtradr is able to connect artists to films, TV, brands, and other media through its automated, worldwide marketplace for music licensing. And music creators control their content and rights and have the ability to monetize their music through licensing all forms of media through the Songtradr platform. Songtradr works with companies like Amazon, Saatchi & Saatchi, Microsoft, ABC, AMC, Boeing, Disney, Nickelodeon, Oxygen, CBS, Showtime, FOX, Columbia Pictures, Netflix, MTV, Lionsgate, Netflix, A&E, Hulu, and WB.
Currently, Songtradr is the only fully automated open marketplaces for music licensing in the world with more than 400,000 artists and catalogs from over 190 countries. The company also experienced 400% year-over-year revenue growth.
“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 Songtradr founder and CEO Paul Wiltshire in a statement.
Australia-based WiseTech Global CEO and founder Richard White was the lead investor in this round. White is a former musician and has over 30 years of software development, embedded systems, and business management experience.
“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,” added White.
The goal of the company is to simplify the process of music licensing for creators and licensees across the world with a platform that unlocks the potential of any artist. And it provides one of the most comprehensive and data-driven music offerings.
