Music startup Soundstripe attracts $9 million in new funding shortly after mobile app launch
Nashville-based music startup Soundstripe has raised an additional $9 million 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 avoid copyright claims with royalty-free music, unveiled its first mobile app allowing creators to access royalty-free music on the go.
The Series B funding round announced today comes two years after the startup raised $2 million from Craft Ventures, a company led by David Sacks, founder COO of PayPal and co-founder/former CEO of Yammer.
Soundstripe raised $4 million in its Series A fundraiser before the Craft deal.
“The Soundstripe team has built an impressive business that is highly differentiated in the royalty free content industry, and we are truly honored to partner with them.”
Travis Milks, Topmark
In addition to Craft and Topmark, the last round (Series B) saw participation from Overline Ventures and Escalate Partners.
Vocap Partners, which participated in Soundstripe’s Series A funding round, also joined the latest fundraiser.
Speaking of the investment, Topmark Managing Partner Travis Milks said, “The Soundstripe team has built an impressive business that differentiates itself strongly in the royalty-free content industry, and we are truly honored to associate ourselves with them.”
Founded in 1999, Tampa, Fla.-based Topmark has invested more than 75 million dollars in more than 45 companies including commercial advertising and corporate video, film and television producer Vū Technologies, according to its website.
For Soundstripe, the investment from Topmark and other investors will help the startup expand its offerings, giving creators, filmmakers and brands access to nearly 200,000 “use anywhere” digital content assets in their videos, commercials and other creative projects.
“The explosive growth of the creator economy has catapulted Soundstripe forward, with our mission of ‘Keep Creators Creating’ resonating strongly with those in need of fast, seamless music, sound effects and music videos. hassle for their projects,” the co-CEO of Soundstripe said. said Travis Terrell.
Terrell said his startup “will now use this Series B funding to invest heavily in our enterprise business, which has already proven to be a huge area of growth for our business while still being full of opportunity.”
Founded in 2016, Soundstripe provides unlimited, royalty-free music, videos, and sound effects that can be used in videos, podcasts, and other multimedia projects. Through its subscription model, content creators pay a fee for the use of all media in Soundtripe’s catalog.
“The explosive growth of the creator economy has catapulted Soundstripe forward, with our mission of ‘Keep Creators Creating’ resonating strongly with those in need of fast, seamless music, sound effects and music videos. hassle for their projects.”
Travis Terrell, soundtrack
To date, the startup has issued more than 10 million licenses for tens of thousands of customers in more than 140 countries, he said.
“The combination of the company’s rapidly expanding content catalog, distribution platform, and sales and marketing capabilities creates a solid platform for continued rapid growth in a very dynamic industry,” said Topmark’s Milks.
On Monday, August 29, Soundstripe launched its first-ever mobile app that lets creators get the tools and features they need even when they’re away from their desk.
The app features curated and curated playlists, seamless song playback, waveform control, search and filters, similar song suggestions, the ability to save favorites, edit personalized playlists, download songs directly to devices, and share songs and playlists.
Soundstripe partners include Microsoft, Amazon, sports media company The Players’ Tribune, Spotify, Samsung and sportswear brand Puma.
The startup has also partnered with Adobe Premiere, Frame.io, and Twitch to bring its catalog of music and sound effects directly to those platforms. Twitch users with Soundstripe accounts can use Soundstripe-licensed tracks as the background for their live streams.
Soundstripe’s appeal as a provider of royalty-free music comes as music rights holders step up their fight against illegal use of their copyrighted material, and the emergence of different media platforms has led to an increase in the number of media creators around the world.
This propelled six-year-old Soundstripe to one of the fastest growing private companies in the United States. The company was recently named to the Top 100 of the 2022 Inc. Regional: Southeast list and the Top 2,000 of 2022 Inc. 5000 list of fast growing companies.
It also won the Game-Changing Startup Award in the Entertainment, Sports and Media category at the Nashville Entrepreneur Center’s 2019 NEXT Awards, and was named one of the city’s Top 10 Startup Cultures by Powderkeg.The music industry around the world