Creandum invests $5m in Epidemic Sound

Epidemic will use the new capital to expand its recently opened operations in the Netherlands, Germany, the UK and the US.

Capital for the deal was drawn from the Creandum III fund, which closed on €135m in May 2013. The VC stated that it was attracted to the company by its ability to offer a global solution for a nationally fragmented marketplace.

Earlier this month, Creandum made a $3.75m (SEK 25m) commitment to Planday, a Copenhagen-based software-as-a-service business focused on employee scheduling. The VC was also among Spotify's early backers. 

Company
Founded in 2009, Epidemic is a provider of library music for online and broadcast production purposes. The company aims to simplify the music licensing process by acquiring 100% of the music in its library and making it available for global use.

Epidemic has a library of 30,000 music tracks that it has purchased from 200 artists. Its customers include TV4 and SVT in Sweden, YLE and MTV3 in Finland TV2 and Discovery in Norway, RTL Netherland and Channel5/Viacom in the UK.

People
Staffan Helgesson, a general partner at Creandum, led the deal. Oscar Höglund is CEO and co-founder of Epidemic.

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• Topics
• Nordics
• Media
• Expansion
• Sweden
• Creandum