SANTA MONICA (CelebrityAccess) – Music licensing and distribution platform Songtradr has completed a Series B funding round of $12 million, bringing the firm’s total funding to $21.5 million to date.
The round was led by investor Richard White, CEO and founder of Australian-based WiseTech Global.
Songtradr, which was founded by tech entrepreneur Paul Wiltshire in 2014, is currently home to over 400,000 artists and catalogs from 190+ countries.
Commenting on the news, Wiltshire said: “The completion of our Series B funding is an exciting step that allows us to further implement our growth and acquisition plans to create the world’s most intelligent, frictionless licensing experience for both music creators and music licensees.
“We’re committed to simplifying the process of music licensing for creators and licensees across the globe with a platform that unlocks the potential of any artist and provides the most comprehensive, data-driven music offering.”
Added White: “Songtradr is poised to be a global leader in music licensing and I’m delighted to support this next phase. I have been watching the growth of Songtradr as an early investor for some time, and I’m keen to help accelerate its growth further as they unfold their product roadmap.”
Since its launch in 2016, Songtradr has experienced year-over-year revenue growth of over 400 percent, according to MBW. Last month, the firm purchased music licensing agency Big Sync Music in a multi-million dollar deal.