SoundCloud Confirms Equity Funding from Union Square Ventures and Index Ventures

SoundCloud, a Berlin, Germany-based online open audio distribution platform that allows musicians to collaborate, promote and distribute their music, recently confirmed it had raised an equity funding from Union Square Ventures and Index Ventures.
The company intends to use the funds to continue to expand in the US where the company has opened a San Francisco office, and add new platform features to improve the user experience.
SoundCloud plans to hire new professionals in the coming months (
In conjunction with the funding, Fred Wilson, a managing partner at Union Square Ventures, and Mike Volpi of Index Ventures, joined the company’s board.
Launched in 2008 by CEO Alexander Ljung, SoundCloud enables users to record audio on the site or via mobile applications and share their sounds across the internet, embedding them across websites, social networks and blogs and receive feedback from the community.
The company, which operates an additional office in the Shoreditch area of London, has recently introduced free apps for iPhone, Android and Mac OS.

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