Songtradr, a B2B music licensing marketplace, has announced the completion of its oversubscribed US$50M Series D funding round bringing the company’s total funding to date to over US$100M, valuing the company at over US$300m.
“Songtradr is rapidly accelerating as we continue to develop our tech-enabled B2B music ecosystem and integrate our new acquisitions. Attracting such a blue-chip investor base into this round further endorses our vision of the future music industry in this rapidly evolving digital world, providing a strong foundation for the future,” said Paul Wiltshire, CEO of Songtradr. “Songtradr experienced over 100% revenue growth year over year in 2020 and we are on track to achieve this again in 2021.”
This funding round included Australian based institutional investors Regal, Aware Super, Perennial, Argo and Greencape and a follow-on investment from Founder/CEO of Wisetech Global, Richard White. The company’s previous Series C round of US$30M was completed in August 2020.
“I have watched Songtradr evolve rapidly over the last 3 years. During this time, Paul and his team have not missed a beat in delivering on their vision, which is impressive by any standard,” said Richard White, Founder and CEO of Wisetech Global. “Songtradr has amplified its strong organic growth and ambitious product roadmap with a highly impactful M&A strategy that further enhances longer term growth potential. I believe the company now has the scale, global footprint and talent to accelerate its plan to transform the music industry.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.