Songclip Announces $11 Million in New Funding

 

Songclip, the patented technology solution for integrating popular licensed music as a feature in social apps, today announced that it has closed $11 million in new funding, led by Gregg Smith of Evolution VC Partners. Songclip works in partnership with the music industry to properly protect and monetize music IP, opening up a new $5 billion marketplace for music in apps. This new raise includes participation by The Kraft Group, Michael Rubin, Raised in Space, Gaingels, and Forefront Venture Partners. Industry executives Jason Flom, Steve Greenberg and the band AJR, join previous investors such as iHeartMedia Ventures, SWAT Equity Partners and Northwood Ventures. To date, Songclip has raised $22 million.

“Social communication and expression represents one of the most exciting sectors for the music industry,” said Gregg Smith, Founder, Evolution VC Partners. “Songclip unlocks this new global opportunity, with turn-key technology and industry support.”

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Songclip works on behalf of the music industry to supply back-end technology and licensing to facilitate music integrations, compliance, measurement and monetization across a variety of consumer app sectors. Offering a curated feed of legally cleared music clips, inclusive of publishing and sync rights, the company’s multi-patented product solution, the Songclip API, integrates seamlessly into social platforms, mobile apps, and virtual marketplaces. Songclip operates the world’s foremost searchable library of compliant meta-tagged music clips, providing robust data/analytics on consumer interactions with music, while also driving distribution, consumption, discovery and monetization for IP owners.

“Songclip’s mission is to protect music industry IP on behalf of the rights holders, while creating a pathway for apps to innovate with music,” said Andy Blacker, Co-Founder and CEO. “Music has become the most sought-after feature for dating, photo and fitness apps, and Songclip makes this possible, with accountability and industry compliance.”

“Songclip reimagined music in a new format designed specifically for social expression, discovery and creation,” said John vanSuchtelen, Co-Founder and COO. “Our API and proprietary search engine make it easy for developers to leverage these key moments in any song, allowing for richer consumer interactions.”