Songfinch is the startup that gets people to pay to have personalised songs created for special occasions. By April this year, when it raised a $5m funding round, it had created nearly 100k of these songs and paid out more than $5m to the musicians it hires to make them.
Now it has raised an even bigger round: $17m of Series A funding according to tech-news site Axios. The round was led by VC firm Valor Siren Ventures, although the piece suggests that the funding drive has also led to introductions to ‘big labels and publishing groups’ who Songfinch is now looking for partnerships with.
There is also an updated stat for payouts to the musicians that Songfinch works with: the company says they have earned more than $12m in the last year alone. The startup is pitching itself as an alternative income stream for artists who may be making music in their spare time, or who want to remain behind the scenes in their careers.