SoundCloud Secures Funding

Social sound platform SoundCloud has raised an undisclosed amount in a fundraising round led by Kleiner Perkins Caufield & Byers. GGV Capital also participated. The investment will allow SoundCloud to further its expansion.

PRESS RELEASE

SoundCloud, the leading social sound platform, raised an undisclosed amount in a fundraising round led by Kleiner Perkins Caufield & Byers. GGV Capital also participated. The investment will allow SoundCloud to continue to expand more rapidly.

“SoundCloud has seen exponential growth this year in terms of users and greatly evolved our product offerings,” said founder & CEO, Alexander Ljung. “With Kleiner Perkins’ impeccable track record for recognizing and investing in companies with a long-term view, and their understanding and support for the potential of sound, we couldn’t be more excited about working together.”

Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. Currently, Mary serves on the board of Square and is actively involved in KPCB’s investments in in Groupon, Legalzoom, Waze, 360buy.com, Spotify, Jawbone, One King’s Lane and Trendyol.

Ljung continued, “Mary Meeker showed very clearly in her recent State of the Internet 2011 presentation that sound is the next frontier on the Web. That vision, along with spotlighting mobile and international markets, made it clear that Kleiner Perkins aligns with SoundCloud’s mission.”

Prior to this announcement, SoundCloud’s funding came from B-Round investors Union Square Ventures and Index Ventures, and A-Round investor Doughty Hanson Technology Ventures.

About SoundCloud
SoundCloud, launched in 2008 by Alexander Ljung and Eric Wahlforss, is an audio platform that enables anyone to create, record, promote and share their sounds on the web, in a simple, accessible and feature-rich way. SoundCloud allows sound creators to instantly record audio; upload large files; share them publicly and privately; embed sound across websites and blogs; receive detailed analytics, plus feedback from the community directly onto their waveform player.