News - 20/02/2017

Spotify's "Soundtrack Your Brand" collects $22 million for B2B music service

Spotify's "Soundtrack Your Brand" collects $22 million for B2B music service

Spotify joint venture Soundtrack Your Brand has raised $22 million in order to expand its music for business service. The round was led by Balderton Capital and Industrifonden; other investors in this Series C round include HMP, Jorg Mohaupt, Creandum, Northzone and Telia.

Previously, Soundtrack Your Brand had raised $10,9 million in June 2015 in a round led by Telia Company A and Spotify. 

Co-founded by former Spotify head of biz dev Andreas Liffgarden and Beats co-founder Ola Sars, Soundtrack Your Brand now offers two services - Spotify Business and Spotify Enterprise - that help business stream music.
Current customers include counts McDonald’s, TAG Heuer, Starbucks In Sweden, and Toni & Guy along with “thousands” of small businesses in 100+ countries.

Competitors in the sector include Muzak owner Mood Media (who is also a partner in Pandora's business service) and Play Network.

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