Sync licensing firm Songistry has raised $5m of funding which it says values the company at $20m. The US-based startup offers a service licensing music for TV, film, advertising and games, and has built a catalogue of more than 100k tracks.
Songistry also sees its “AI-powered search engine” technology as a key part of its pitch (both to clients and investors) as it tries to stand out from a fairly crowded lineup of sync agencies and licensing platforms.
The company is currently focusing on two services: MDIIO encourages artists to “store everything associated with your songs, including your tracks, metadata, collaborators, lyrics, playlists, pitches, network, splits, and even licenses”. Meanwhile, hyprAUDIO is the licensing platform, where clients can upload an MP3, YouTube or SoundCloud link to find similar tracks to license.
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