Murfie, a Madison, Wis.-based online digital music marketplace, has closed a $1.4m funding.
The round was led by DaneVest Tech Fund, with participation from angel investors including Barry Silbert, CEO of SecondMarket.
The company intends to use the capital for marketing initiatives and scaling-up its technical infrastructure.
Launched in 2011, Murfie offers users a platform for buying, selling and trading their media collections in physical and digital formats. it has gained more than 4,000 customers and more than 120,000 CDs, with about 1,000 to 2,000 new CDs coming in per day.
The company has also been selected to be part of the TechStars Winter 2012 Boston Program. As part of the program, Murfie receives seed funding from different venture capital firms and angel investors, along with three months of intensive mentorship and the chance to pitch for additional funds at the program’s conclusion.