2015-12-03 13:00Press release

Online Collaborative Music-making Solution Soundtrap Sees Explosive Growth and Gets $1.5 million in Funding

Total Funding Now $2.5 Million; Prominent Investors Joining Team

Palo Alto, Calif., and Stockholm, Sweden - December 3, 2015 – Soundtrap (www.soundtrap.com), a hot new competitor to Apple’s Garageband, has seen blistering early growth accompanied by an additional $1.5 million (U.S.) in funding along with early recognition by the American Association of School Librarians. The company is the first online music and audio recording studio enabling collaboration between people from all over the world across a multitude of devices including iPads, Android devices, Chromebooks, and Mac and Windows platforms. With Soundtrap, users only need a browser to record a tune or podcast together with others across multiple platforms -- a first-of-its-kind capability. See video: https://www.youtube.com/watch?v=xheoUkbyhE4

Soundtrap released its beta product at the end of 2013, followed by the official version in June 2015. ”We've grown organically from 20,000 users in January 2015 to a quarter of a million users now in November,” said Soundtrap CEO and co-founder Per Emanuelsson. “We have also become a Google for Education partner since June this year.”

Such early success just attracted the new round of financing, bringing the total to date to $2.5 million. New investors include the well-known startup angel Magnus Bergman, an early investor in Truecaller and Prezi . He joins existing investor Lars Bergström who are both taking the lead in the round.

“The eclectic team of technologists, designers and music producers that built Soundtrap set out to create the best collaboration platform for making music online and appears to have achieved its goal. I'm very impressed by the founders and the team’s competence to develop the next Swedish Unicorn, following giants like Spotify, Skype, King, Klarna and Mojang”, said Bergman.

Also getting onboard as private investors in this round are Kristoffer Melinder, Joakim Karlsson and Ulf Rosberg from Nordic Capital together with strategic investors from Scandinavia and the United Kingdom. The new funding will be used to accelerate product development as well as further expand user growth.

The world has clearly already taken notice of Soundtrap. It was just named “The Best Website for Teaching & Learning 2015” by the American Association of School Librarians. Soundtrap is currently in use in over 1,000 schools and the platform has grown from 20,000 to 250,000 users in 200 countries in just 11 months. The company was also invited to present on Google’s stage on the Slush conference in Europe, November, 2015.

Soundtrap is headquartered in Stockholm, Sweden, and is expanding its presence in Palo Alto, California, in the heart of the Silicon Valley.


About Soundtrap

Soundtrap is the first cloud-based audio recording platform to work across all operating systems, enabling users to co-create music anywhere in the world. The company is headquartered in Stockholm, Sweden. Soundtrap provides an easy-to-use music and audio creation platform for all levels of musical interest and abilities and is being used by the K-12 through higher-education markets. On December 2017, Soundtrap was acquired by Spotify. For more information, visit http://www.soundtrap.com

Contacts

PR for Soundtrap
Aoife Kimber