Songkick Raises $10 Million From Sequoia Capital
Live music database and app Songkick has raised $10 million in Series B financing from Sequoia Capital. It is the first time the Silicon Valley based VC firm, whose portfolio includes Apple, Google, YouTube, PayPal, Zappos and Dropbox has invested in a British startup. Songkick has seen rapid growth in part thanks to partnerships including Ticketmaster, Spotify and Soundcloud.
Previous investments in Songkick, which launched in June of 2007 with $15,000 from Y Combinator, total $6.52 million. The players included include included SoftechVC, The Acclerator Group (for a combined $1M in 2008), Index Ventures ($3.5M later in 2008) and a February 2011 venture round of $2 million.
Good For Musicians
"When someone starts using Songkick, they go to almost twice as many gigs the year after." according to Songkick co-founder and CEO Ian Hogworth. "That’s twice as many awesome nights out with friends, twice as much money in the pockets of hardworking bands, twice as much footfall for venues and festivals. For artists that’s a big deal. Concerts are where the majority of their income comes from, so this helps more artists make a living from music."