Amuse, a Stockholm, Sweden-based innovative record label, closed a $15.5M Series A financing.
The round was co-led by Lakestar and Raine Ventures. In conjunction with the funding, Gordon Rubenstein, Managing Partner, Raine Ventures, will join as a board observer.
The capital will be used to expand operations globally.
Founded in Stockholm in 2015 by a team of music industry experts including Diego Farias, Christian Wilsson, Jimmy Brodd, Andreas Ahlenius and Guy Parry, Amuse provides a free music distribution service, which allows new talent to deliver their music to major music services like Apple Music, Spotify and Deezer, among others. With Amuse, artists can track their progress daily and see how people listen and download. The platform then uses data to analyze music consumption and listening habits to identify promising rising talent.
The company signs artists through licensing deals rather than traditional contracts, which means the artists have access to large-scale promotion while still owning their work. 100% of the royalties go to the artist.
The Amuse app is available for free on both Android and iOS, enabling anyone to distribute and track their music and royalties on all major music streaming services globally.