FUGA Nabs $7 Million For US Expansion, Acquisitions
With a catalog of over 2 million tracks, FUGA's content management and delivery platform provides instant delivery of more than 2.5 million music tracks and videos per month to over 250 DSPs worldwide for over 5000 labels.
FUGA clients include Epitaph Records, Ultra Records, Tommy Boy Entertainment, Domino, Essential Music, Spinnin’ Records, Armada Music, Harmonia Mundi, Curb Records and Baseware Distribution.
The $7 million in new funds, which comes from existing shareholders, will be used to expand into the U.S. and internationally, including possible acquisitions.
Pieter van Rijn, CEO of Fuga, said: “I am very proud of FUGA's trajectory, and happy that it has been recognised by our shareholders. I am confident that this significant injection of funding will mean we are able to far exceed our already ambitious plans and strengthen our position as an industry leader.”