The raise brings Songtradr’s total funding to $100 million and gives the company a valuation of more than $300 million, according to the announcement.
Songtradr Chief Executive Paul Wiltshire said the company has seen 100% revenue growth year over year in 2020 and anticipates achieving this again in 2021.
"Songtradr is rapidly accelerating as we continue to develop our tech-enabled B2B music ecosystem and integrate our new acquisitions,” Wiltshire said in a statement.
Since November, Songtradr has acquired London-based CueSongs; Sydney, Australia-based Song Zu; Redmond, Wash.-based Pretzel Tech; San Francisco-based Tunefind; and most recently, New York-based Massive Music.
Songtradr announced its merger and acquisition plans following the closure of its previous funding round of $30 million in August 2020.
"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,” said Richard White, founder and chief executive of Wisetech Global, a Schaumburg, Ill.-based software company which participated in the company’s Series C funding round.
Founded in 2014, Songtradr has attracted more than 600,000 artists, songwriters and music rights owners to its marketplace of brands, advertising agencies, streaming platforms and networks.
Along with the company’s Santa Monica headquarters, Songtradr has offices in Europe and the Asia-Pacific region.
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