Soundtrack Your Brand, a Stockholm, Sweden-based global music streaming service for businesses, raised $15m in pre-growth funding.
The round was led by Music, a holding company led by Matt Pincus in partnership with Liontree, JS Capital Management and Schusterman Family Investments. It also included funding from music investors Dundee Partners and was supported by all major existing investors including Balderton Capital, Fuel Venture Capital, Industrifonden, Telia and DIG. In conjunction with MUSIC’s investment, Pincus will join Soundtrack Your Brand’s board.
The company intends to use the funds to expand operations and its business reach.
Founded in 2013 by Ola Sars as a joint effort with Spotify, as Spotify for Business, Soundtrack Your Brand is a B2B music streaming service for thousands of businesses such as stores, hotels, restaurants, and other commercial settings to strengthen relationships with customers through music. Clients include iconic brands such as McDonald’s, Lululemon, Uniqlo, Joe & The Juice, Aesop and Tag Heuer, among others.
Moving into 2024, the company will raise in an additional growth round to fund the further consolidation of the global background music market.
FinSMEs
14/06/2023