Epidemic Sound, a Swedish music provider, has secured $20 million in funding. The investors included DS Asset Management.
Stockholm, Sweden – Epidemic Sound (Epidemic), named as the second fastest growing Swedish technology company on the Financial Times’ list of Europe’s fastest-growing companies, announces a raise of $20 million to fuel global expansion.
The fundraise comprised of equity from DS Asset Management, a leading Korean asset manager founded by entrepreneur DS Jang, and debt from Skandinaviska Enskilda Banken AB (SEB), a Swedish financial group.
The funds will be used to further penetrate markets it is live in and launch in new markets and continents, with a strong focus on Asia. In autumn 2019, Epidemic will launch in Seoul, South Korea via a partnership with DS Asset Management. Through the strategic launch, Epidemic seeks to partner with some of Asia’s most dynamic musicians and next generation content creators.
The raise comes off the back of a sharp increase in demand for Epidemic’s music from all types of content creators due to the quality of its music and its simple licensing model. Epidemic has over 10,000 creators a week, everyone from influential YouTubers to well-respected film producers and directors, as well as brands and major broadcasters.
Oscar Hoglund, Co-Founder and CEO, comments: “Asia is home to some of the world’s most exciting and dynamic online content creators, musicians, and businesses. We have witnessed strong growth in demand for Epidemic’s music platform across the Asian continent prior to even having a presence there, so this launch feels like a natural next step for Epidemic.
“Furthermore, we’re humbled and thrilled to be working with DS Asset Management. Expanding in Asia in partnership with such an entrepreneurial, locally-connected group gives us great confidence in our expansion plans.”
Vania Schlogel, Chair of the Board of Directors at Epidemic, adds:
“The speed with which Epidemic has been executing to soundtrack all corners of the world is a testament to the quality of Epidemic’s music and best-in-class technology licensing platform. Epidemic has grown its revenue by over 100% year over year, sources its tracks from some of the world’s most talented artists, and provides music to top global brands and online content creators. Epidemic has revolutionized this segment of content creation and sharing for a digital economy.”
Epidemic is backed by Creandum, EQT Mid-Market and Atwater Capital.
The Company has offices in eight major cities across the globe: Stockholm, Helsinki, New York City, Amsterdam, Hamburg, Madrid, Los Angeles and Sydney.
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About Epidemic Sound
Epidemic is a global technology company disrupting the music industry headquartered in Sweden. It is the number one music provider for a wide range of storytellers; everyone from famous YouTubers to well-respected film producers and directors, as well as corporate brands and broadcasters. The tracks are created by our portfolio of talented independent musicians from all around the world who are increasingly building fan bases and becoming artists in their own right.
The company was co-founded in 2009 by five Swedish entrepreneurs all on a mission to soundtrack the world by enabling music to flow freely and fairly. Epidemic now has over 340 employees and offices in eight major cities across the globe: Stockholm, Helsinki, Amsterdam, Hamburg, Madrid, New York City, Los Angeles and Sydney.
SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. The international nature of SEB’s business is reflected in its presence in some 20 countries worldwide. On March 31, 2019, the Group’s total assets amounted to SEK 2,886 billion while its assets under management totalled SEK 1,790 billion. The Group has around 15,000 employees. Read more about SEB at http://www.sebgroup.com
Creandum is a leading European venture capital firm that believes any industry can be disrupted by the right entrepreneur. The Creandum funds have over €660 million under management and are advised by the Creandum Advisory companies with offices in Stockholm, Berlin and San Francisco. Over the past 15 years the Creandum funds have invested in more than 75 companies including Spotify, iZettle, depop, Klarna.
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
About Atwater Capital
Focused exclusively on the Media and Entertainment sectors, Atwater Capital was founded with the vision of uniting the valuable creative aspects of evaluating investments and growing companies with deep operational and financial expertise under one roof and one team. Going against the status quo of traditionally segregating these critical activities,
Atwater seeks to extract the synergies of applying quantitative rigor to creative strategy on behalf of our its portfolio companies and stakeholders. With offices in Los Angeles and Seoul, Atwater connects leading operators across key trend-setting geographies.
References to Atwater’s investments may include the activities of its sponsored funds. For additional information about Atwater Capital, LLC, please visit www.atwater-capital.com and on Instagram at @atwatercapit