(l to r) Soundtripe co-founder and co-CEO Micah Sannan, co-founder and co-CEO Travis Terrell, and CTO Trevor Hinesley. Photograph Credit: SoundstripeVideo-targeted royalty-absolutely free new music system Soundstripe has formally announced a $9 million Series B funding round.
Nashville-headquartered Soundstripe, which states that it’s issued north of 10 million licenses due to the fact debuting in 2016, unveiled the multimillion-dollar spherical nowadays. The increase will come about three a long time just after the corporation pulled down $6 million from investors – $4 million in a Sequence A with a $2 million observe-up arriving a number of months afterwards.
This Sequence A’s primary backer, Vocap Partners, also participated in the Collection B, as did existing trader Craft Ventures. On the other hand, the latest round was led by Tampa’s Topmark Partners and drew additional guidance from Atlanta’s Overline Ventures and Austin’s Escalate Companions.
Soundstripe intends to use the $9 million capital inflow “to commit in new B2B goods and expert services to increase its fast growing Company enterprise,” according to execs, who also touched on plans to develop “new tools” for their company’s core procedure and to carry on setting up out the entity’s presence in publishing.
Relating to these new equipment, it bears highlighting that Soundstripe yesterday exposed its “first mobile application.” Though the organization did not point out claimed application in the Series B release, it did disclose that the giving is already out there to obtain by means of the Perform Shop and the App Shop. Interestingly, better-ups indicated that “one of the most common matters individuals have questioned for is a Soundstripe cell app” – a place that could establish insightful in conditions of the service’s subscribers and their experienced aims.
Addressing the Collection B in a assertion, Soundstripe co-founder and co-CEO Travis Terrell emphasized the aforementioned intention of investing “heavily” on the organization side.
“The explosive advancement of the creator economic climate has catapulted Soundstripe ahead, with our mission to ‘Keep Creators Creating’ resonating strongly with people who want speedy, inconvenience-no cost tunes, audio outcomes, and online video clips for their assignments,” communicated the veteran musician Terrell. “We will now use this Collection B financing to invest seriously in our company enterprise, which has currently established to be a massive location of expansion for our firm whilst remaining ripe with option.”
Particularly as several brands encounter high-profile copyright infringement lawsuits for allegedly using unauthorized audio on social media, it’ll be worthy of subsequent Soundstripe’s enlargement initiatives on the business entrance moving forward.
Truly worth noting in conclusion is that Epidemic Seem, which concluded a enormous round in March of 2021, is now embroiled in a much-publicized licensing struggle with Fb and Instagram parent Meta.