Epidemic Sound, a Stockholm, Sweden-based platform for content creators on YouTube to license individual tracks, received a strategic investment of undisclosed amount from Kichi Invest.
Kichi Invest is an investment company co-founded by Fredrik Wester, CEO and founder of Swedish gaming company Paradox Interactive. Following the investment, Wester will join the board at Epidemic Sound.
The deal valued Epidemic at around $45m, more than doubling its $20m valuation from 2014.
The company intends to use the funds to continue to expand its reach globally.
Led by Oscar Höglund, CEO and co-founder, Epidemic Sound is a music company for online creators to subscribe for unlimited use or license individual soundtracks across over 180 music genres, in prime time broadcast quality, which can be incorporated in online videos, such as YouTube, Facebook, and Snapchat, thus solving copyright restrictions. All music usage includes clearance on all platforms, worldwide, for all time.
The company has more than 80 employees, hundreds of freelance composers, and offices in New York, Amsterdam, Madrid, Hamburg, and Stockholm.