NASHVILLE, Tenn. - (BUSINESS WIRE) -#financing–Tech-enabled production music startup Soundstripe received an additional $ 2 million in financing from Craft Ventures, just a few months after raising a $ 4M Series A Investment. Craft is led by David Sacks, founder of COO of PayPal and co-founder / former CEO of Yammer, and Bill Lee, a prominent founder and investor in San Francisco. Craft Ventures invests in outstanding teams who are creating market-defining products, including eSports favorite Cloud9, among many others. This led to Soundstripe, which was already exceeding 2019 growth expectations, and identified several new opportunities to deploy additional funding. Soundstripe quickly embraced Craft's experience, and their creed of "Founders Backing Founders."
The additional $ 2 million from Craft will allow Soundsripe to continue expanding its presence even further in production music space, where its unique model has resulted in over 2 . The funding will also help companies invest in music acquisitions and partnerships, and expand their relationships in that space, especially with producers, songwriters, and engineers.
Travis Terrell, Co-Founder and Co-CEO, said, “This investment by Craft will allow Soundstripe to continue taking tangible steps that give creators the most agile and seamless means to bring content to the consumer, while attracting a wider subscriber base,” of Soundstripe. "Our goals are as ambitious as our users', and we look forward to welcoming more subscribers as we look to expand into the growing podcast segment and international markets."
"We are impressed with Soundstripe's growth since its start in 2016," said Bryan Rosenblatt, principal at Craft Ventures. “Their unique approach to helping creators source high-quality music for film, video, and gaming streams is simple to use, cost-effective, and saves a ton of time. They will be able to expand their team and the products they offer. "
For more information on Soundstripe, visit soundstripe.com.
Soundstripe is one of the industry's fastest growing providers of unlimited, royalty-free music for video, That music is created by a team of composers, mix engineers, songwriters, producers, and other music industry professionals by the company to ensure that all tracks are of the highest quality. Licenses cover all uses and remain in effect should video producer choose their membership or let it expire. 2 countries since Soundstripe's inception in 130. The company is based in Nashville and has been named one of the city's Top 10 startup cultures. For more information, visit soundstripe.com.