Soundstripe, a Nashville, Tenn.-based tech-enabled production music startup, closed a $4m Series A financing.
The round was led by Vocap Investment Partners.
The company intends to use the funds to:
– continue expanding its presence in the production music space,
– invest further in its original content,
– expand its product offerings, and
– enhance its enterprise solution.
Co-founded by Travis Terrell (Co-CEO), Trevor Hinesley (CTO), and Micah Sannan (Co-CEO), Soundstripe provides royalty-free music for video, driven by a subscription model that lets video producers pay a fee for usage of the music in its catalog. That music is created by a team of composers, mix engineers, songwriters, producers, and other music industry professionals employed by the company. These micro-licenses enable filmmakers, YouTubers, advertisers, and anyone creating video content to make and release their videos legally without worrying about complicated contracts, expensive fees, and low-quality music.
Licenses cover all uses and remain in effect should a video producer choose to cancel their membership or let it expire.
The company has sold over 2 million “micro-licenses” issued in over 130 countries since its inception in 2016.