Nashville-based music startup Soundstripe has raised another $9 million in funding from a group of investors led by private equity firm Topmark Partners and existing investors including Craft Ventures.
The latest funding round was announced just a day after Soundstripe, which helps creators dodge copyright claims with royalty-free music, revealed its offering. The first mobile app For content creators to access royalty-free music on the go.
The announcement of the Series B fundraiser today comes two years after the start of operation Raising $2 Million From Craft Ventures, a company led by David Sacks, founding COO of PayPal and co-founder/former CEO of Yammer.
Soundstripe raised $4 million in Series A fundraising prior to the deal with Kraft.
“The team at Soundstripe has built an impressive business that’s highly differentiated in the royalty-free content industry, and we’re really proud to partner with them.”
Travis Milks, Topmark
Besides Craft and Topmark, the last round (Series B) saw participation from Overline Ventures and Escalate Partners.
Vocap Partners, who participated in Soundstripe’s Series A round, joined in the latest capital raise.
Speaking about the investment, Travis Melkes, Managing Partner at Topmark, said: “The team at Soundstripe has built an impressive business that is highly differentiated in the royalty-free content industry and we are really proud to partner with them.”
Founded in 1999, Tampa, Florida-based Topmark invested More than 75 million dollars in more than 45 companies Including commercials, corporate video, and film and television producer Vū Technologies, according to its website.
For Soundstripe, investment from Topmark and other investors will help the startup expand its offering, allowing creators, filmmakers and brands to access nearly 200,000 digital content assets for “use anywhere” in videos, ads and other creative projects.
“The explosive growth of the creator economy has propelled Soundstripe forward, as our mission to ‘Keep Creators Creating’ resonates strongly with those who need fast, hassle-free music, sound effects, and videos for their projects,” Soundstripe co-CEO Travis said. Terrell.
Terrell said his startup will now “use this Series B funding to invest heavily in our corporate business, which has already proven to be a huge growth area for our company as opportunities continue to mature.”
Founded in 2016, Soundstripe provides unlimited, royalty-free music, video stock, and sound effects that can be used in videos, podcasts, and other media projects. Through its subscription model, content creators pay a fee to use all the media in the Soundtripe catalog.
“The explosive growth of the creator economy has propelled Soundstripe forward, with our mission of ‘Keeping Creators Creating’ resonating powerfully with those who need fast, hassle-free music, sound effects, and videos for their projects.”
Travis Terrell, Soundstripe
So far, she added, the startup has issued more than 10 million licenses to tens of thousands of customers in more than 140 countries.
“The combination of the company’s content catalog and distribution platform and rapidly expanding sales and marketing capabilities create a powerful platform to continue rapid growth in a highly dynamic industry,” said Topmark’s Milks.
On Monday (August 29), Soundstripe launched its first-ever mobile app that allows creators to get the tools and features they need even when they’re away from their desktop PC.
The app features curated and featured playlists, smooth song playback, waveform control, search and filters, similar song suggestions, option to save favorites, edit custom playlists, download songs directly to devices, and share songs and playlists.
He was also the recipient of the Game-Changing Startup Award in the Entertainment, Sports, and Media category at the 2019 NEXT Awards from the Nashville Business Center, and was named the City’s Top 10 Emerging Cultures by Powderkeg.Music business around the world