Epidemic Sound raises $450m from EQT, Blackstone

EQT Growth made the investment through EQT AB's balance sheet. EQT Mid Market Europe, which acquired 40% stake in the company in 2017, has partially sold its stake but will continue to back the company alongside the other investors. EQT continues to be the largest shareholder in the company. 

The new shareholders, alongside existing owners, plan to support the company's international expansion in both existing and new markets, and accelerate customer acquisition and investments in the core user experience. 

Company
Founded in 2009 and based in Stockholm, Epidemic Sound is a subscription-based provider of royalty-free music, with access to a unique library of 32,000 tracks.

The company has additional offices in New York City, Los Angeles, Seoul, Hamburg, Amsterdam and Sydney. In 2019, it generated a turnover of SEK 375m (€37m). It has around 500 staff, according to LinkedIn. 

People 
EQT - Victor Englesson (partner). 
Epidemic Sound - Oscar Höglund (co-founder, CEO). 

Advisers
Vendor - SEB Corporate Finance (corporate finance); Goldman Sachs (financial adviser); White & Case (legal).
Equity - PwC (financial due diligence, tax); DLA Piper (legal).

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• Topics
• Expansion
• Nordics
• Technology
• Blackstone Group
• EQT
• Sweden