The Echo Nest Corporation, a Somerville, MA-based intelligence company providing smarter music applications for online music companies and developers, secured additional venture financing.
Backers in the funding include three new investors: Donald L. McLagan, Nicholas Negroponte and James J. Pallotta. They join existing investors Commonwealth Capital Ventures, Argos Management, Thomas DiBenedetto and MIT Media Lab co-founder Barry Vercoe, all participating in this most recent investment round.
The company is co-founded by two MIT Media Lab PhDs, Brian Whitman and Tristan Jehan.
The Echo Nest, which has also received National Science Foundation SBIR grant for three times, will use the capital for planned major enhancements to its music application development platform and to expand its engineering team.
FinSMEs
06/01/2010