Northzone and Investinor in $3.4m round for Soundrop

The fresh funding will allow Soundrop to concentrate its efforts on generating growth and driving revenues.

Since the company's first funding round last year, Soundrop has focused predominantly on product development and on creating a relationship with Spotify, the music service with which it now partners.

Previous funding
In June 2012, Northzone backed Soundrop with a $3m investment.

Company
Founded in 2011, Soundrop is headquartered in Oslo with additional offices in London, New York and Los Angeles. The company provides a real-time, cross-platform social music service, which allows users to create a social "listening room" that can be joined by other users. The platform also allows users to interact with artists.

Soundrop claims its service allows artists to take advantage of the now-popular streaming method of listening to music. In allowing artists to engage with fans, Soundrop claims its platform will help drive revenue for artists and music labels by generating a higher level of licensed streaming, which in turn grows market share.

Soundrop is available as an app for Spotify, of which Northzone is an investor. The platform was the second most-used app in Spotify last year, according to Soundrop.

People
Inge Andre Sandvik is the CEO of Soundrop. Torleif Ahlsand is a general partner at Northzone and sits on Soundrop's board of directors as chairman. Ann-Tove Kongsnes is an investment director at Investinor.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Expansion
• Technology
• Norway
• Northzone