HomeFundingFresh capital: SoundCloud teams with Kleiner Perkins

Fresh capital: SoundCloud teams with Kleiner Perkins

The leading “social sound platform” SoundCloud has just announced a fundraising round (undisclosed amount) led by Kleiner Perkins Caufield & Byers. GGV Capital also participated. The investment will allow SoundCloud to continue to expand more rapidly.

“SoundCloud has seen exponential growth this year in terms of users and greatly evolved our product offerings,” said founder & CEO, Alexander Ljung. He continued: “With Kleiner Perkins’ impeccable track record for recognizing and investing in companies with a long-term view, and their understanding and support for the potential of sound, we couldn’t be more excited about working together.”

Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. Currently, Mary serves on the board of Square and is actively involved in KPCB’s investments in in Groupon, Legalzoom, Waze, 360buy.com, Spotify and others.

Ljung continued, “Mary Meeker showed very clearly in her recent State of the Internet 2011 presentation that sound is the next frontier on the Web. That vision, along with spotlighting mobile and international markets, made it clear that Kleiner Perkins aligns with SoundCloud’s mission.”

Prior to this announcement, SoundCloud’s funding came from B-Round investors Union Square Ventures and Index Ventures, and A-Round investor Doughty Hanson Technology Ventures. SoundCloud, which is headquartered in Berlin, was founded in 2008 by Alexander Ljung and Eric Wahlforss. The young company offers an audio platform that enables anyone to create, record, promote and share their sounds on the web.

Update: Gigaom has just reported that SoundCloud has raised $50 million in this new round of funding.

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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