Songclip, a NYC-based patented technology solution for integrating popular licensed music as a feature in social apps, raised $11m in funding.
The round was led by Gregg Smith of Evolution VC Partners with participation from The Kraft Group, Michael Rubin, Raised in Space, Gaingels, and Forefront Venture Partners. Industry executives Jason Flom, Steve Greenberg and the band AJR, joined previous investors such as iHeartMedia Ventures, SWAT Equity Partners and Northwood Ventures. To date, Songclip has raised $22 million.
The company intends to use the funds to further develop its product offerings and search engine, data analytics and deployment of the API, and recruit additional talent to its current team of music, mobile, and product experts.
Led by Andy Blacker, CEO, and John vanSuchtelen, COO, Songclip is a new licensed music format built specifically for texting, social posts, and quick communication. Its multi-patented product solution, the Songclip API, integrates into social platforms, mobile apps, and virtual marketplaces to drive expression, monetization, and music streaming. The company operates a searchable library of compliant meta-tagged music clips, providing data/analytics on consumer interactions with music, while also driving distribution, consumption, discovery and monetization for IP owners.