The Echo Nest, a Somerville, MA-based music intelligence platform, has closed a $17.3m financing.
The round was led by Norwest Venture Partners, with participation from existing investors Matrix Partners, Commonwealth Capital Ventures, Fringe Partners, Jim Pallotta and board member Michael Brown.
The company intends to use the funds to support continued sales growth, international expansion, and new product development (including enhancements to its “Fanalytics” listener data platform).
Led by Jim Lucchese, CEO, and Brian Whitman, CTO, The Echo Nest is a music big data company that powers music apps for media companies and independent developers. It provides an open, API-based access to a large repository of dynamic music data in the world.
Customers include industry leaders such as Clear Channel’s iHeartRadio, eMusic, MOG, Spotify, Nokia, the BBC, and VEVO.
Over 340 applications have been built on The Echo Nest platform.
The company is currently hiring (http://the.echonest.com/company/jobs/).
FinSMEs
12/07/2012