HomefundingSchematic Labs Completes $4.75M Financing

Schematic Labs Completes $4.75M Financing

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Schematic Labs, a San Francisco, CA-based provider of mobile social entertainment applications and creator of SoundTracking, a mobile music app for iPhone and iPod touch, has completed a $4.75m financing.

This round was led by Accel Partners, with participation from True Ventures and SoftBank Capital.

The company intends to use the funding for hiring engineering and design team to further develop the SoundTracking product and platform.

The SoundTracking mobile application and service combines music, photos, and geo-location, enabling users to share the “soundtrack of their life” across the social Web on Facebook, Twitter and Foursquare. Launched in March, 2011, SoundTracking has grown to nearly 1 million users. Last month, the company released SoundTracking 2.0, in conjunction with Apple and Twitter to provide deeper integration with single-sign on, tweet sheet and artist-fan discovery features.

SoundTracking was founded by Steve Jang, CEO, and Matt Paul, CTO and co-founder of Schematic Labs.

FinSMEs

09/11/2011