Songtradr raises $12M in latest funding round

Music licensing platform Songtradr has completed a $12 million Series B round of funding as it looks to expand globally and develop new products. The campaign, which was led by WiseTech Global CEO Richard White, follows close on the heels of Songtradr's acquisition of London-based rights management agency Big Sync Music.

This latest round brings Songtradr’s total funding to date to $21.5 million.

Songtradr's open music marketplace boasts over 400,000 artists from 190-plus countries, giving creators control over how they monetize their music through licensing to brands, music supervisors, filmmakers and streaming platforms. The firm's proprietary tech uses streaming and social metadata to help those media gatekeepers in the licensing process.

"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.

Added White, "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."

Source. Billboard, Staff, March 24, 2019