Soundcharts raises $3.1M to modernize the fast-changing Music Industry and automate its workflow.
Subscription streaming is the new paradigm for the Music Industry, one that the global recording market now relies on. A few days ago Goldman Sachs predicted a 500% streaming revenue increase by 2030 and valued Universal Music at $23B. Professionals are changing the way they work: this is where Soundcharts comes in.
Launched 11 months ago after a year in beta, and with already over 250 enterprise clients coming from 23 countries, Soundcharts powers the workflow of employees of the three majors (Universal Music, Sony Music and Warner Music), as well as independent labels, publishers and management companies such as Believe Digital, 300, SONGS Publishing, Red Bull Records and Ignition Management. Soundcharts monitors social, charts, playlists and radio airplay data in real-time. The company helps marketing and sales teams, agents and promoters, A&Rs, managers, and artists themselves, work more efficiently on a daily basis.
In June 2017, Soundcharts won the 10th anniversary edition of Midemlab the international pitching competition for innovative music-related startups held at Midem who had recognized the potential of countless music/tech companies, including SoundCloud, The EchoNest (sold to Spotify in 2014) or Next Big Sound (sold to Pandora in 2015).
Today, Paris-based music tech startup Soundcharts is announcing a $3.1M (€2.65M) round to solidify its position as the indispensable service provider for any music industry professional. The Series A round was led by Alven Capital, with participations from Kima Ventures and Global Founders Capital. To date, the startup has raised a total of $3.4M.
“Soundcharts processes, analyzes and archives a mass of information in real-time and gives meaning to this data thanks to an intuitive personalized dashboard and automated reports” comments David Weiszfeld, CEO and founder of Soundcharts.
“What is magical about Soundcharts is that we help artists, managers, product managers, digital marketers, sales team, radio programmers, playlists curators, brands as well as with the A&R discovery process. We provide a service to anyone serious about doing business with artists or more generally music content. This puts Soundcharts at a central position within the ecosystem. We are thrilled to see that many industry leading companies chose us to power their daily workflow and we hope to keep building the platform for tomorrow’s usages and help our users execute their strategies more efficiently.”
Jeremy Uzan, Partner at Alven Capital comments: “The global music business has been dramatically changed by digitalization and the development of revolutionary new ways of producing and consuming music. As a new generation of professionals is entering this growing and changing industry, there will be space to develop a must-have SaaS platform offering real-time market intelligence. We have been really impressed by David’s vision and ambition, and by his ability to structure a highly talented tech team around him. Soundcharts is already experiencing a strong traction on the market, and we are convinced that soon every music professional will have to switch to this cutting-edge product to stay in the game.”
Soundcharts will use the funds to strengthen its technical leadership as well as serve its customers. The company is currently recruiting to open offices in Los Angeles, New York and London before the end of the year.
Contact Soundcharts at email@example.com for more information!