Epidemic Sound raises $5M in series A investment round from Creandum.
Epidemic Sound, whose production music library is used by TV broadcasters, production companies and online video creators all over the world, today announced it has received $5 million in Series A funding from the venture capital firm Creandum, best known for early investments in companies such as Spotify, iZettle and Vivino.
Production of visual content is growing exponentially today, and music in this content is essential for creating a rich, high quality viewer experience. Approximately 90% of all visual content uses production music to achieve this goal. Until Epidemic Sound launched, incorporating music into visual content has been legally complicated, financially challenging, technically sub served and a reporting nightmare due to the structure of music licenses today.
Epidemic Sound is the first professional quality music library that visual content creators can use in any country, on any platform, forever. And, unlike traditional production music libraries, no additional charges, reporting or restrictions are ever required of anyone.
“Epidemic Sound is to broadcasters and visual content producers what Spotify and Beats are to consumers,” said Epidemic Sound CEO and Co-founder Oscar Höglund. “In less than a year we signed up a majority of the Swedish broadcasters; the following year we did the same with all broadcasters in Northern Europe. It’s now time to introduce our services to the rest of the world.”
A few of Epidemic Sound’s current customers include a majority of TV broadcaster in Northern Europe, including TV4 and SVT in Sweden; YLE and MTV3 in Finland; TV2 and Discovery in Norway; RTL Nederland in Holland; and Channel5/Viacom in the U.K. Some recently launched co-operations with multi channel networks (MCNs) include Disney’s Maker Studios in the U.S. and Mediakraft in Germany.
The Series A funds will be used by Stockholm-based Epidemic Sound to expand recently opened operations in Holland, Germany, the U.K. and U.S.