Epidemic Sound, a Swedish music firm which helps music and video creators in licensing music for their work has announced bagging a $20 million funding from Korean firm DS Asset Management and Swedish financial group Skandinaviska Enskilda Banken AB (SEB). The current fundraising values the company to $370 million. The current round of capital infusion takes the total amount raised by the company to $58.9 million. Other backers of the firm include names like Epidemic include Creandum, EQT Mid-Market, and Atwater Capital.
Launched in 2009 by David Stenmarck, Jan Zachrisson, Oscar Höglund, and Peer Åström, counts the big names like YouTube, Instagram, Netflix and TikTok as their customers for the music licensing segment. The fresh funds allow the firm to enter into the Asian region, provided they have a Korean firm as an investor. Through the platform, the creators can get legal content they need easily. If someone is looking for a particular category, Epidemic offers a search engine where users can look for it by genre, mood, energy level, and beats.
Commenting on the plans of starting the operations in Asia, Oscar Höglund, one of the co-founders said, Asia is home to some of the world's most exciting and dynamic online creators, musicians and entrepreneurs. We have seen a strong increase in demand for Epidemic Sounds music platform on the Asian continent even before we have had a presence there, so this launch feels like a natural next step for us.”
As fresh funds arrive, it will be interesting to see how the firm manages to pull off results in the Asian region, the same as it has produced till now.
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