Music-licensing firm Songtradr has announced its latest funding round: a $12m Series B round led by Australian entrepreneur Richard White. It takes Songtradr to $21.5m of total funding so far, following its $4m round in January 2018, and $5m before that.
The company’s business is an automated marketplace for music-licensing, with artists on one side and film, TV, brands and media entities on the other. It has grown to a catalogue including more than 400,000 artists, and says the new funding will go towards “rapid global growth and product development”.
The news comes a month after Songtradr acquired music-licensing agency Big Sync Music. That deal was described as a “multi-million dollar cash and equity transaction”, which saw Unilever Ventures becoming a minority shareholder in the company.