NASHVILLE, Tenn.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/financing?src=hash” target=”_blank”gt;#financinglt;/agt;–Tech-enabled production music startup Soundstripe
this week closed its $4 million Series A financing, which was led by Vocap
Investment Partners, a leading venture capital firm focused on
Series A stage technology companies. Soundstripe has quickly attracted
tens of thousands of business customers by offering the most robust and
cost-efficient solutions for royalty-free music. The company’s
innovation lies with its supply chain for original music. Producing,
owning, and distributing its music library directly to filmmakers allows
for consistent quality music content and a focus on innovative user
experience for the exploding video creator market. With an avid and
loyal creator community, Soundstripe has seen triple digit
year-over-year growth for the past three years.
The investment will allow Soundstripe to continue expanding its presence
in the production music space, where its unique subscription model has
resulted in over 2 million “micro-licenses” being issued in over 130
countries since its inception in 2016. The funding will also enable the
company to invest further in its original content, expand its product
offerings, and enhance its enterprise solution to the growing list of
marquee clients.
Soundstripe is built on the mission “keep creatives creating,” enabling
video producers to pay a subscription fee for unlimited, royalty-free
usage of the music in Soundstripe’s catalog. These micro-licenses enable
filmmakers, YouTubers, advertisers, and anyone creating video content to
make and release their videos legally without worrying about complicated
contracts, expensive fees, and low-quality music. Licenses cover all
uses and remain in effect should a video producer choose to cancel their
membership or let it expire.
“This investment will help take Soundstripe to the next level of growth
by enabling us to create the world’s best music for video and deliver
that to customers in the simplest way possible,” said Travis Terrell,
Co-Founder and Co-CEO of Soundstripe. “We can now grow our subscriber
base by leaning into proven growth channels, expanding our acquisition
of original music content, creating new product and feature expansions,
and investing in our personnel and office space.”
“It is amazing what the Soundstripe team has accomplished with only
$500k of funding prior to our investment,” said Vinny Olmstead, Managing
Director of Vocap Investment Partners. “In just three years, they have
disrupted an expanding market by creating a simplified and elegant
solution. Their unique approach to producing and owning their music
fosters a pricing and licensing advantage that has heeded great success.
In addition, their vision for future expansion and product development
is exciting to say the least. We are thrilled to partner with this team
to go attack this tremendous opportunity.”
For more information on Soundstripe, visit soundstripe.com.
About Soundstripe
Soundstripe is one of the industry’s fastest growing providers of
unlimited, royalty-free music for video, driven by a unique subscription
model that lets video producers pay a fee for usage of the music in
Soundstripe’s catalog. That music is created by a team of composers, mix
engineers, songwriters, producers, and other music industry
professionals employed by the company to ensure that all tracks are of
the highest quality. Licenses cover all uses and remain in effect should
a video producer choose to cancel their membership or let it expire.
This approach has led to over 2 million licenses being issued for tens
of thousands of customers in over 130 countries since Soundstripe’s
inception in 2016. The company is based in Nashville and has been named
one of the city’s Top
10 startup cultures. For more information, visit soundstripe.com.
About Vocap Investment Partners
Vocap Investment Partners provides venture capital and operational
expertise to rapidly growing technology companies in high potential
verticals, including: Enterprise Software, Media and Entertainment,
Consumer Internet and Healthcare IT. For more information, visit http://www.vocappartners.com.
Contacts
Soundstripe Media Contacts
Laurie Jakobsen, Jaybird
Communications — [email protected],
646.484.6764
Bill Greenwood, Jaybird Communications — [email protected],
609.221.2374
