Music analytics provider Soundcharts has raised $3.1 million in a Series A round. The French startup is working to fill the void created when Pandora acquired music analytics pioneer Next Big Sound and competing streaming services stopped feeding it data.
Paris based tech startup Soundcharts has raised $3.1 million to expand its music data analytics services. The Series A round was led by Alven Capital, with participations from Kima Ventures and Global Founders Capital. To date, the startup has raised a total of $3.4M.
The company will use the funds to expand and is currently recruiting to open offices in Los Angeles, New York and London before the end of the year.
Launched 11 months ago after a year in beta, Souncharts monitors social, charts, playlists and radio airplay data in real-time. The startup is already serving 250 enterprise clients from 23 countries including all three major music groups and many independent labels, publishers and management companies.
“Soundcharts processes, analyzes and archives a mass of information in real-time and gives meaning to this data thanks to an intuitive personalized dashboard and automated reports” comments David Weiszfeld, CEO and founder of Soundcharts. “What is magical about Soundcharts is that we help artists, managers, product managers, digital marketers, sales team, radio programmers, playlists curators, brands as well as with the A&R discovery process. 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. "
In June of this year, Soundcharts won the 10th anniversary edition of Midemlab the international pitching competition for innovative music-related startups held at Midem.