Tracklib Raises $4.5M To Expand Sample Clearance Platform
Music sample clearance platform Tracklib has raised a $4.5 million investment round which new investor Eelko van Kooten, founder Spinnin’ Records and previous investors including Sony Innovation Fund.
van Kooten sold dance label Spinnin’ Records to WMG in 2017 for more than $100 million. Tracklib most recently raised $1.7 million from Sony and WndrCo in May 2019.
Tracklib’s extensive 100k+ catalog of songs ranges from 1928 to 2020 and consists of everything from Mozart to Isaac Hayes. Many artists have released songs with Tracklib samples including Lil Wayne, DJ Khaled, Phantogram, Mary J. Blige, and J. Cole’s 5x Platinum single “Middle Child” which was built around a sample from Tracklib.
“To have closed this incredible round right on the heels of fully rebuilding and relaunching our service–when we haven’t been in the same room together for months–is as thrilling and exhausting as you can imagine during such a tumultuous time in the world,” said Pär Almqvist, founder and CEO of Tracklib.
“As a former music publisher and label founder, I have witnessed first-hand both the artistic benefits and business challenges of sampling, and long admired Tracklib as they have made automated sample clearance affordable, accessible, legal, and lucrative on a global scale,” said Spinnin’ Records’s Founder Eelko van Kooten. “I am pleased to join Pär and the team at this exciting time in their journey. Tracklib is the perfect place for creatives to get inspired and have samples cleared.”