The company intends to use the capital for mobile app and feature development, as well as for US launch.
Founded by Alex Parish and Julian Keenaghan, who are also founders are members of the band Years Of Rice And Salt, the service allows users to meet new people beyond their existing social graphs by introducing people who share similar musical preferences. It has more than 100,000 registered users across 100 countries.
In May 2012, the company launched their Spotify app, which allows users to share tracks and playlists with new people on the music streaming service. Since then over 50,000 Spotify users have registered using the app.