VC-backed Spotify acquires Tunigo

GP Bullhound's Sidecar Fund was a co-investor in Tunigo prior to the sale.

Creandum first backed Spotify in October 2008. Northzone, Chinese businessman Li Ka-shing and his vehicle Horizons Ventures also participated in the $21.6m series-A round.

Wellington Partners joined existing investors Li Ka-shing and Horizons Ventures in Spotify's $50m series-B round in 2009. The company's series-C round saw Sean Parker and Founders Fund invest €11.6m in 2010. Kleiner Perkins Caufield & Byers, Accel Partners and Digital Sky Technologies then participated in a $100m venture round in June 2011.

It total, Spotify has received $188m in funding to date.

Company
Based in Stockholm, Tunigo is a digital music company that offers ways to share music and playlists on Spotify. The company assists users in discovering specific music, as well as keeping track of current music news.

Since launching its music discovery app globally on the Spotify platform, Tunigo has also launched the Tunigo iPhone app.

People
Niklas Holmsten is the CEO and founder of Tunigo. Per Roman is co-founder and managing partner at GP Bullhound.

Advisers
Vendor – GP Bullhound (Corporate finance).

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