LOS ANGELES (CelebrityAccess) — Songtradr, a music rights and licensing marketplace for businesses, announced it has completed its latest round of fundraising from investors, raising $30M in new capital.
According to Songtradr, the money will be used to accelerate their expansion plans, foster product development and for “key acquisitions.” The funding round established a value for Songtradr of US$165M.
“Songtradr is a beneficiary of the significant acceleration of digital adoption resulting from the pandemic. It is an unprecedented time and our focus has been on delivering value to our community of artists, composers and music licensees,” said Paul Wiltshire, CEO of Songtradr.
The Series C capital raise was led by the St. Baker Australian family office and included a number of other prominent Australian family offices as well as several existing Songtradr investors.
Songtradr’s previous round of funding, completed in early 2019, raised $12 million.
Headquartered in Los Angeles, and with offices in multiple locations in Europe, Songtradr positions itself as a marketplace for songwriters and rightsholders to connect with brands, advertising agencies, streaming platforms, game developers, and film & television companies interested in licensing music.