Paris company Soundcharts just raised $3m+ to help them keep track of all the music activity and data for the industry.
Less than a year after officially launching, spending a year in beta until late last year, Soundcharts have gained some whopping funding in a Series A round. Raising a giant $3.1 million (€2.65 to them) their round of funding led by Alven Capital should help them to establish and expand their exponentially rising success.
Soundcharts keeps track of as much music data as they can, surveying streaming activity, music charts, playlists, radio airplay, and more, all in real-time. Their vast collection of information about the market is then utilised by executives from all across the industry, in particular marketing and A&R as well as being a useful tool for artists to track their own progress.
The funding will go towards strengthening their position in the industry, making sure they stand up to competitors, and will also be put towards expansion outside of Paris. Soundcharts appear to be looking to open up offices in Los Angeles, New York and/or London by 2018.
Soundcharts’ CEO and founder, David Weiszfeld says: “Soundcharts processes, analyses and archives a mass of information in real-time and gives meaning to this data thanks to an intuitive, personalised dashboard and automated reports. What is magical about Soundcharts is that we help artists, managers and product managers, digital marketers, sales team, radio programmers, playlist curators, brands as well as with the A&R discovery process.
“This puts Soundcharts at a central position within the ecosystem. We are thrilled to see that many industry leading companies chose us to power their daily workflow and we hope to keep building the platform for tomorrow’s usages and help our users execute their strategies more efficiently.”