SYDNEY, NSW (CelebrityAccess) — The Australian Music licensing startup Melodie announced it has secured new funding with the company now valued at $15 million dollars as they pursue a growth strategy of expanding its music API licensing revenue base, bringing in new composers and music tracks, and placing its catalogue in more film & TV productions.
According to Melodie, their latest fund-raising round was oversubscribed and includes additional investments from early Atlassian employee and Code Barrel founder Nick Menere, and the co-owner of The Drop Festival, Peter Strain.
Melodie plans to use capital raised in the last funding round to fuel growth in Melodie’s three core segments – B2C, B2B, B2B2C with a focus on markets in the U.S., the company said.
“It’s been a strong 18 months of catalogue growth, broadcast placements and client acquisitions. Royalties are on the move and LTM revenues are up 250%. I’m confident we have a strong growth trajectory with offshore revenues set to exponentially increase in the coming months and years as we expand into new territories. As we mark our fifth year of operation, we are now at the stage of building a global presence and we are committed to playing a significant role in the development and commercialization of new talent.”
The company’s latest funding raise valuation is significantly ahead of previous estimates during their 2021 fund-raising cycle when they were marked at $4 million.
