Royalty-free music service Soundstripe secures $9m funding

2 sep 2022 - 08:53

Published under the Creative Commons Licence

American music startup Soundstripe has attracted an additional $9m in funding.

The new funds are expected to expand the Soundstripe business.

Soundstripe offers creators unlimited, royalty-free music, stock videos and sound effects for a monthly subscription fee. The funding follows a recent announcement by the platform of its new mobile app.

The funding was led by private equity firm Topmark Partners and other existing investors including Craft Ventures.

“The team at Soundstripe has built an impressive business that is highly differentiated in the royalty-free content industry and we are truly honoured to partner with them,” Topmark managing partner Travis Milks said.

Soundstripe co-CEO Travis Terrell said: “The explosive growth of the creator economy has catapulted Soundstripe forward, with our mission to ‘Keep Creators Creating’ resonating strongly with those who need fast, hassle-free music, sound effects and video clips for their projects. We’ll now use this Series B financing to invest heavily in our enterprise business, which has already proven to be a huge area of growth for our company while remaining ripe with opportunity”.

Soundstripe says the new investment will help the company grow its offerings, enabling creators, filmmakers and brands to access nearly 200 000 “use anywhere” digital content assets in their videos, ads and other creative projects.

The company secured about $6m in funding prior to the latest fundraising round. It says it has issued more than 10 million licences for tens of thousands of customers in more than 140 countries.

Soundstripe launched its first-ever mobile app, which enables users to access the service on their phones. The app offers curated and featured playlists, song playback, waveform control, search and filters, similar song suggestions and the option to save favourites, among other functionalities.

Soundstripe’s partners include Spotify, Adobe Premiere, Microsoft, Amazon, Samsung and Puma. Twitch users with Soundstripe accounts are able to use Soundstripe-licensed tracks as backgrounds for their live streams, which can help creators curb copyright claims against them.