Welcome, Soundtrack Your Brand
Today we are excited to welcome Soundtrack Your Brand to the family as they announce a $22m growth round. The round, which was led by us with participation from new investor Balderton Capital and returning backers including Creandum, Northzone and Telia, will enable the company to kill bad background music all over the world. More on the round here.
Soundtrack Your Brand is today the world’s fastest-growing background music company, with its sights set on continued rapid international expansion. The company was founded in 2013 by Andreas Liffgarden and Ola Sars, former executives with Spotify and Beats, with backing from Spotify. Since then they have recruited a stellar team with experience from the likes of Klarna, EA and iZettle, and have become undisputed market leaders in the Nordics.
When looking at music in the B2B sector, an instant revelation is that the evolution we have all experienced in the consumer music industry over the last decades is yet to happen in business. By introducing a digital SaaS solution to a fragmented and mostly archaic market using CDs, radio or illegal consumer streaming services, Soundtrack Your Brand represents a very exciting technical leap-frogging in a massive market.
We see the consumerization of the enterprise as a driving force in the B2B software space. A combination of mobile ubiquity and rapid adoption of new technology among consumers has increased the demands put on enterprise products. Product design and UX, which traditionally has been somewhat of a last-minute rush-over in B2B, is increasingly becoming a competitive advantage.
Soundtrack Your Brand has taken a design-centric, product-first approach which is loved by purchasers for its simplicity and data richness, but also by its end-users such as restaurant managers and front-desk staff thanks to its sleek, intuitive UI. This love for product design was recognized by McDonald’s as they signed a global contract, but also more recently when Soundtrack Your Brand, as the first B2B startup ever, was awarded the prestigious Design S Award.
In retail, every percentage point of sales is crucial as margins are slim. Therefore, the fact that research shows that retailers playing music with brand fit sell more compared to no music or the wrong music is a huge deal. In competitive retail, showing such results means that your music choices across a global chain will translate into millions of dollars in lost or increased revenue. Helping SMEs and enterprise customers play the right music and activate their brand is therefore a business critical task which Soundtrack Your Brand is addressing every day.
While the first years have centered on product and distribution — essentially establishing a powerful supply chain of music and sound zones — the coming years will be all about refining the value and leveraging data. The Soundtrack platform already has better reach than FM radio, and leverages data in a way no other B2B player has attempted before. By utilizing a scientifically proven content curation model, Soundtrack Your Brand can create customized brand sounds for both enterprise and SME at scale, and with its reach and audience insights it can claim one of the strongest promotional platforms in the world of music. We are truly excited to join the company on this journey and do our utmost to support them as they scale.
Or as the team would say; Nobody puts music in the corner.
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