The innovative online music and audio recording studio Soundtrap has raised € 5.4 million in funding to accelerate product development and to bring its popular cloud-based platform to new markets. Soundtrap is the easy-to-use cloud-based music making platform enabling collaboration between people from anywhere in the world on a multitude of devices.
Since its launch in June 2015 Soundtrap has seen exponential growth and has been organically adding multiple thousands of new users per day. It expects to reach a million users before the end of the year. The company rolled out an education version of its product at the beginning of 2016, and is now attracting more than 200 new schools every week around the globe, primarily from US, Europe and Australia. Soundtrap is also an official Google for Education Partner and is one of three companies selected for Google’s “Creative Apps for Chromebook” bundle – a program launched by Google in June 2016.
Per Emanuelsson, co-founder and CEO, Soundtrap: “Our vision is for Soundtrap to be the go-to platform for everyone, everywhere, to collaborate around music making and creative audio production across any device. As we enter new markets in the education and consumer sectors, we have our sights set on accelerating our first mover advantage in product and business development. We recently signed a North American distribution agreement with SYNNEX Corporation (NYSE:SNX), a leading technology solutions distributor, becoming the first and only music education solution within SYNNEX’s portfolio.”
The Series A round was led by Nordic VC firm Industrifonden with participation from existing owners and additional new investors including Peter Sterky, former CFO and COO of Spotify. This funding round brings Soundtrap’s total funding to about € 7.6 million. Other investors of the company include Swedish producer and composer Andreas Carlsson, Truecaller founders Alan Mamedi and Nami Zarringhalam, Linus Andreen and Aristotracks, and financial investors from Scandinavia and the United Kingdom.
The music startup was founded in 2012 in Stockholm, Sweden. The company also has an office in Silicon Valley.