Chicago-based Music Dealers LLC, which aims to connect independent artists and music licensors into audio/visual media, has raised $2.18 million in Series B financing. The company, formed in 2008, did not disclose details about investors, but said that it has raised a total of $5.25 million.
Music Dealers LLC (www.musicdealers.com), the leading solution for connecting independent artists and music licensors into all audio/visual media, today announced that it has closed $2.18 million in Series B funding to further accelerate the Company’s growth and customer success. The investment was led by a group of private investors, including participation by the Company’s Series A investors. With the $2.18 million investment, Music Dealers has now raised a total of $5.25 million since its’ founding in 2008.
“The closing of our Series B round is strong confirmation from both existing, and new investors that Music Dealers continues to financially validate the strategic and operational goals we set forth in 2008. Over the past three years, we have laid a solid foundation, built upon substantial revenue growth, that places us on a path to both continued expansion and profitability,” said Jonathan Sheinkop, co-founder and Executive Chairman. “The proceeds from this Series B round will allow us to leverage added resources along with the knowledge we’ve acquired, to expand our market-share among clients- especially F500 brands. We’ll continue building a dynamic catalog with the best music and respond opportunistically to strategic openings through our business development teams, accelerating our growth both domestically and internationally.”
Hundreds of media companies and brands have selected Music Dealers’ simple-to-use yet powerful music licensing solutions, earning the Company a leading share of the independent music licensing space. The Coca-Cola Company formed a strategic partnership with Music Dealers in early 2011 to become the Company’s music sourcing partner at a global and market level, to build effectiveness and efficiency of music assets and related IP across marketing campaigns for its more than 500 brands.
Music Dealers LLC, a global B2B music licensing solution, pursues commercial placement of original music from the best independent and award-winning artists in every genre. Its website provides unprecedented access to pre-cleared, ready-to-license music from a catalog exceeding 150,000 premium songs through a patent-pending business process that cross-references multiple search criteria to consistently deliver accurate music search results. The virtual studio available at http://www.MusicDealers.com allows access to thousands of experienced and talented composers from around the globe who are effectively “on call” 24/7, thereby making Music Dealers one of the largest custom music providers in the world. Music Dealers is based in Chicago with offices in Los Angeles, New York, Atlanta and London.