Music licensing platform Songtradr has completed a Series B capital of US$12 million to support acquisitions, growth and product development. This round brings Songtradr’s total funding to date to $21.5 million.
Billing itself as the only fully-automated, open marketplace for music licensing with over 400,000 artists and catalogs from 190+ countries, Songtradr reports year-over-year revenue growth of over 400%.
The lead investor in the round is former musician Richard White, CEO and founder of Australian-based WiseTech Global (WTC.AX, market cap circa A$7B). “Songtradr is poised to be a global leader in music licensing and I’m delighted to support this next phase," said White. "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.”
"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,” said Paul Wiltshire, founder and CEO of Songtradr.