Stockholm-based Tracklib, the world’s first record store with songs for sampling, raised $1.7 million to act on its ambitious plan to expand its user base and recording catalog. The round was joined by Sony Innovation Fund; WndrCo; and Jörg Mohaupt, a private, early-stage investor who has invested in several other music companies including Discogs and Amuse. The funding round is in preparation for a Series A funding later this year.
Tracklib will use this funding to continue expanding the user base and
music catalog of its pioneering service – affordable, instant sample
licensing – to bring more great music to more music producers and
artists. Offering a large and diverse catalog of licensed original
recordings, including unique stems and multitracks, the groundbreaking
service is already used and supported by some of the world’s most
prominent music producers and artists. Hundreds of songs with Tracklib
samples have been released, including J.Cole’s latest double-platinum
single MIDDLE CHILD and DJ Khaled’s chart-topping HOLY MOUNTAIN.
“This recent investment demonstrates the belief forward-looking
investors have in our solution to one of the most complicated challenges
in the music business: how to make sampling accessible, legal and
affordable to producers and artists in all stages of their careers,”
said Tracklib CEO Pär Almqvist. “We create a new and essential
infrastructure in the global music industry, enabling completely new
revenues and creative opportunities.”
“We are happy to join Tracklib to support its innovative product and
growth plans,” said Gen Tsuchikawa, Chief Investment Officer of Sony
Innovation Fund, the venture capital arm of Japan’s Sony Corporation.
“Sony Innovation Fund is proud to invest in such early-stage and
emerging growth companies to help them develop and scale their
Launched in April 2018, Tracklib is the world's first and only music
service that enables music creators to discover, sample, and license
original recordings. It solves a problem that has been plaguing
producers, DJs, artists, and many others since the rise of sampling in
hip-hop and dance music over 30 years ago: how to license and pay for
legal use in an easy and straightforward way. Tracklib features a
library of over 100,000 tracks and growing that users can browse,
download, and license for sampling with the click of a button.
Tracklib was founded in 2014 to liberate sampling by creating a music
service that makes it possible for the world’s music creators to sample
original recordings without looking over their shoulders. Headquartered
in Stockholm, Sweden, Tracklib is also represented in New York City,
Los Angeles and London.
To date Tracklib has raised $4.4M, from early stage equity investors, Vinnova and Almi.
Wednesday, May 22, 2019
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