- Songtradr, a German AI metadata and music search startup with access to more than 50 million song titles, for an undisclosed sum.
- The acquisition comes more than a year after the Australian-owned, Los Angeles-based company purchased online music
- “Musicube is an AI solution founded in 2019 by David Hoga and Agnes Chung that allows users to search for music, playlists, and artists based on audiences, moods, genres, vocal features, instruments, and pace.
Songtradr, a business-to-business (B2B) music licencing marketplace, is expanding its technology capabilities today with the acquisition of Musicube, a German AI metadata and music search startup with access to more than 50 million song titles, for an undisclosed sum.
The acquisition comes more than a year after the Australian-owned, Los Angeles-based company purchased online music database Tunefind, music streaming service Pretzel, worldwide music agency Big Sync Music, sync licencing company Cuesongs, and sound design studio Song Zu.
Read More: Stocks Rise Despite Uncertainties Keep Wall Street shaky
After obtaining $66 million in a Series D fundraising round in June 2021, the company, which employs over 350 employees across 12 offices worldwide, reached a valuation of more than USD$300 million (AUD$397 million).
WiseTech Global founder (ASX: WTC) Richard White and institutional investors Regal, Aware Super, Perennial, Argo, and Greencape contributed to the oversubscribed financing.
Musicube has addressed audio analysis from a completely fresh angle, according to Songtradr CEO Paul Wiltshire, and the acquisition will advance the company’s aim to raise the value and effectiveness of music in entertainment.
“Their impressive team of passionate musicologists and data scientists understand the power of data and its relationship with music, which ultimately benefits our brand and agency customers as well as music rights holders,” he added.
“In order to have the world’s best B2B music search and recommendation technology, we need premier metadata enrichment technology, which is a key component of the B2B music supply chain.”
Read More: Treasury Secretary Janet Yellen believes that inflation will “remain high”
Musicube is an AI solution founded in 2019 by David Hoga and Agnes Chung that allows users to search for music, playlists, and artists based on audiences, moods, genres, vocal features, instruments, and pace.
The proprietary software is offered via web widgets and an application programming interface (API), allowing music labels and publishers to “metadata at scale.”
