Paris-based startup Soundcharts has raised 3.1M dollars in its latest funding round, underlining its ambition to fill the gap left by former music-analytics companies such as Semetric, The EchoNest or Next Big Sound. Launched just 11 months ago, the firm counts more than 250 clients from 23 countries – among them the three majors (Universal Music, Sony Music and Warner Music) as well as independent market players such as Believe Digital, 300, SONGS Publishing, Red Bull Records and Ignition Management. Recently, the Midemlab startups competition acknowleged this performance, declaring Soundcharts its award-winner in two categories.
The company’s core business is to monitor and analyse social, charts, playlists and radio airplay data in real-time, thus enabling marketing and sales teams, agents and promoters, A&Rs, managers and artists themselves to work more efficiently on a daily basis. David Weiszfeld, the startup’s CEO and founder, is driven by the vision of turning his company into an indispensable service provider for any music industry professional: “We provide a service to anyone serious about doing business with artists or more generally music content. This puts Soundcharts at a central position within the ecosystem.”
To date, the startup has raised a total of 3.4M dollars. The current Series A round was led by Alven Capital, seeing also investments from Kima Ventures and Global Founders Capital. With the new financial resources, Soundcharts intends to strengthen its technical unit and service network. Currently, the company is preparing its international expansion with offices in Los Angeles, New York and London due to open before the year’s end.
About the same topic, see our article about Fortunes and the social numbers game