Sync marketplace Songtradr raised a $30m funding round in August. Now we know part of how that’s being spent: on an acquisition of British sync licensing company Cuesongs.
Originally founded by artist Peter Gabriel, the company launched its licensing website in 2012, and although it went through some sticky times – including going into administration in 2016 – a new company with the same name was set up after the first was dissolved in 2017.
Now that company has been snapped up by Songtradr for an undisclosed amount. “Cuesongs is a premium music agency. The caliber of talent they work with and the quality of the tracks they license makes them a natural fit for integrating into our ecosystem,” said CEO Paul Wiltshire in a statement.
The two companies are already familiar with one another, including Songtradr’s CFO Clare Nicholls being a director of Cuesongs, so the fit should be clear.
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