Swedish startup raises cash to streamline music licensing for marketers
A startup has raised $20 million to expand its platform intended to make it easier for creators to license music for video.
Epidemic Sound offers marketers and other creators a simple process by which to license original music to soundtrack ads and other video content.
As TechCrunch report, the company's existing clients range from independent YouTube creators all the way up to large agencies and even Netflix.
Epidemic offers a catalogue of original music written specifically for commercial purposes. So, while marketers won't find any Hans Zimmer on the platform, they can choose from a range of new work, much of which hasn't been used before.
The platform is open to any creator, but Epidemic does some curation to make sure the quality of the most visible work remains high. Epidemic pays rightsholders an upfront payment per track, with subsequent royalties being split 50/50.
The company's latest raise gives it a reported valuation of $370 million. Participants in the round include Creandum, a Swedish VC that also owns a stake in Spotify.