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'Success' In Music: What Does It Mean Right Now?

Production Music Startup Soundstripe Raises Another $2M

image from www.cinema5d.comSubscription-based production music startup Soundstripe has raised an additional $2 million in financing from Craft Ventures, just months after raising a $4 million Series A round.

Craft is led by David Sacks, founding COO of PayPal and co-founder/former CEO of Yammer, and Bill Lee, a prominent founder and investor in San Francisco based on the credo of “Founders Backing Founders.”

Soundstripe will use the new funding to continue expanding in the production music space, where its subscription model has resulted in over 2 million “micro-licenses” issued in 130+ countries since its inception in 2016. The funding will also enable the company to invest further in music acquisitions and partnerships, "especially with producers, songwriters, and engineers."

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“This investment by Craft will allow Soundstripe to continue taking tangible steps that give creators the most agile and seamless means to bring content to the consumer, while attracting a wider-reaching subscriber base,” said Travis Terrell, Co-Founder and Co-CEO of Soundstripe. “Our goals are as ambitious as our users’, and we look forward to welcoming more subscribers as we look to expand into the growing podcast segment and international markets.”

“We are impressed with Soundstripe’s growth since its start in 2016,” said Bryan Rosenblatt, principal at Craft Ventures. “Their unique approach to helping creators source high-quality music for film, video, and gaming streams is simple to use, cost-effective, and saves a ton of time. We also share their excitement to expand their team and the products they offer.”

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