Business-focused music-streaming service Soundtrack Your Brand has raised another $22m in funding, following a $10.9m round in June 2015.
This round was led by Nordic VC fund Industrifonden alongside Balderton Capital, with previous investors including Telia, Northzone and Access Industries’ Jörg Mohaupt.
Soundtrack Your Brand continues to focus on background music for businesses and venues, with the necessary public-performance licensing built in.
The company says its revenue and user base has grown by 400% since the start of 2015, and while it hasn’t published specific figures for those revenues yet, it counts McDonald’s, Tag Heuer and Toni & Guy among its clients, as well as “thousands” of small and medium-sized businesses.
Soundtrack Your Brand says the $22m will go towards further global expansion, although it has also been talking to TechCrunch about plans to sign direct licensing deals with rightsholders for around 15m tracks – something that will also require capital.
• Read our May 2016 interview with Soundtrack Your Brand’s founders
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