Shazam, a London, UK-based music discovery startup, raised $30m in funding.
The investment valued the company at over $1 billion. For DN Capital, which first invested in the company in 2004, the increased valuation represents a 1000x increase in value.
The company intends to use the funds to continue to grow operations, continuing to focus on user growth and engagement.
Led by and Rich Riley, CEO, and Andrew Fisher, Executive Chairman, Shazam provides mobile audio recognition apps that allow people to identify music and connect with artists, TV shows, ads, cinema, radio and retail environments.
Shazam has been downloaded over 500 million times and has over 100 million monthly mobile active users.
The company is hiring