Pentech Ventures in £3m round for Musimetric
Pentech Ventures and Imperial Innovations Group have invested £3m in data analytics company Semetric Ltd, trading under the name Musimetric.
The new capital will support the company to develop its products and expand globally.
Company
Semetric was founded by CEO Gregory Mead, Marie-Alicia Chang and Matthew Jeffery in 2008. It operates out of one office in London and another in Los Angeles. Semetric's products trade under the name Musimetric and provide analytics for the entertainment and music industry.
The company's clients include EMI, MTV and NME. Semetric also teamed up with BBC to develop an application tracking the highest BitTorrent music downloads in the UK by postcode, allowing the firm to follow how, when and where music is consumed.
People
Marc Moens led the deal on behalf of Pentech. Following the transaction, Jon Edington will join Semetric's board as non-executive director.
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