SoundCloud Raises $10 Million In Venture Funding To Scale Faster & Expand In U.S.
Last week, RootMusic received $2.3 million to help musicians build better Facebook pages and trueAnthem raised $2.9 million to take another shot at making ad-supported music market work. Then, X5 Music, a Swedish digital-only record label, landed $9 million in funding to help them expand into the U.S. market. Now, SoundCloud has announced receiving $10 million in a funding round led by Index Ventures and Union Square Ventures.*
Interviews with Fred Wilson and Mike Volpi below:
The company intends to use this money to scale faster and be more present in the U.S. With this announcement, SoundCloud also posted short interviews with their new investors – Index's Mike Volpi and Union Square's Fred Wilson.
As it turns out, VCs don't hate music after all. Listen below or read them here.
*Reports indicate that SoundCloud actually raised this money last year, but only made the announcement now, because they were busy building music apps.