Songtradr’s $30m funding round last August has fuelled an acquisition strategy that has seen the B2B music licensing firm buy companies including Cuesongs, Pretzel, Song Zu, Tunefind and MassiveMusic. Now the company is turning to investors again, with a $50m Series D funding round that values Songtradr at more than $300m.
“Songtradr experienced over 100% revenue growth year over year in 2020 and we are on track to achieve this again in 2021,” said CEO Paul Wiltshire as the round was announced.
More acquisitions may be on the way, but Songtradr is also considering the potential for a public listing on the Australian Securities Exchange (ASX) according to the Sydney Morning Herald. “At this stage, we’re looking at all opportunities. The second half of this year is possible, and we’re we’re certainly working towards being in a position to do that,” said Wiltshire.