Tuesday, May 14, 2019

Soundstripe Raises $4M For Video Music Licensing | hypebot

image from cdn.uc.assets.prezly.comNashville music tech startup Soundstripe has closed a $4 million Series A financing round led by Vocap Investment Partners. Soundstrip offers subscription based royalty-free music micro-licences to YouTubers, advertisers and other video creators.

The startup reports triple digit year-over-year growth for the past three years, issuing 2 million “micro-licenses” since its inception in 2016. The funding will enable Soundstrip to invest in more original content, expand product offerings, and enhance its enterprise solution for marquee clients.

“This investment will help take Soundstripe to the next level of growth by enabling us to create the world’s best music for video and deliver that to customers in the simplest way possible,” said Travis Terrell, Co-Founder and Co-CEO of Soundstripe. “We can now grow our subscriber base by leaning into proven growth channels, expanding our acquisition of original music content, creating new product and feature expansions, and investing in our personnel and office space.”

“It is amazing what the Soundstripe team has accomplished with only $500k of funding prior to our investment,” said Vinny Olmstead, Managing Director of Vocap Investment Partners. “In just three years, they have disrupted an expanding market by creating a simplified and elegant solution. Their unique approach to producing and owning their music fosters a pricing and licensing advantage that has heeded great success. In addition, their vision for future expansion and product development is exciting to say the least. We are thrilled to partner with this team to go attack this tremendous opportunity.”

[from http://bit.ly/1n4oGj7]

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