Music licensing platform Songtradr today announced that is had raised a Series A round of $4 million to support the company's ongoing expansion. This latest round brings Songtradr 's total funding to $9 million. Lead investor in the round was Richard White, CEO and founder of Australian-based WiseTech Global.
Songtradr is an automated, worldwide marketplace that delivers commercial music to brands, apps, TV and filmmakers. Since its inception, the platform has grown a catalog of more than 140,000 artists from 150 countries. The new funding will be used to expand the Santa Monica based startup.
"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."
"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'sleadership and vision and in his ability to grow Songtradr and expand it's reach and product depth, whilst I continue to grow WiseTech Global."