Songtradr raises $50m in a funding round valuing the company at $300m

By Emmanuel Legrand

Los Angeles-based B2B music licensing marketplace Songtradr has completed a $50M Series D funding round, led by Australian based institutional investors Regal, Aware Super, Perennial, Argo and Greencape, and with a follow-on investment from Founder/CEO of Wisetech Global, Richard White. 

  "Attracting such a blue-chip investor base into this round further endorses our vision of the future music industry in this rapidly evolving digital world, providing a strong foundation for the future," said Paul Wiltshire, CEO of Songtradr.

  The company's previous $30m Series C round was completed in August 2020. The oversubscribed round brings to $100m the company's total funding to date, valuing the company at over US$300m. The company said it was exploring an IPO that could take place by the end of this year.

Integrate new acquisitions

  Songtradr has been on a recent buying spree. Earlier this month, it acquired creative music agency MassiveMusic, a few weeks after it finalised deals for the acquisition of music and sound design firm Song Zu, music discovery platform for film and TV Tunefind and music supplier for livestreaming Pretzel. 

  "Songtradr is rapidly accelerating as we continue to develop our tech-enabled B2B music ecosystem and integrate our new acquisitions," said Wiltshire, who added that the company experienced over 100% revenue growth year over year in 2020 and was "on track to achieve this again in 2021."  

  "I have watched Songtradr evolve rapidly over the last 3 years. During this time, Paul and his team have not missed a beat in delivering on their vision, which is impressive by any standard," said Wisetech Global's Richard White. 

Ambitious product roadmap

  He added: "Songtradr has amplified its strong organic growth and ambitious product roadmap with a highly impactful M&A strategy that further enhances longer term growth potential. I believe the company now has the scale, global footprint and talent to accelerate its plan to transform the music industry."  

  Songtradr counts Disney, Netflix, Apple, Coca-Cola, Amazon and Google as clients and claims to connects 600,000+ artists, songwriters and music rights owners to a B2B marketplace of music buyers such as brands, advertising agencies, streaming platforms, SVoD networks, film, TV, gaming companies and influencers.