Epidemic Sound raises funds to the tune of $20 million to soundtrack the world
- Epidemic Sound raises $20 million to fuel further international market expansion and further growth in Europe and North America
- Company launches in Asia via a strategic partner in South Korea, DS Asset Management
- Raise and partnership comes after Epidemic Sound has seen increased demand for its music from content creators all over the world
Stockholm, Sweden – Epidemic Sound, named as the second fastest growing Swedish technology company on the Financial Times’ list of Europe’s fastest-growing companies, announces a raise of $20 million to fuel global expansion.
The fundraise comprised of equity from DS Asset Management, a leading Korean asset manager founded by entrepreneur DS Jang, and debt from Skandinaviska Enskilda Banken AB (SEB), a Swedish financial group.
The funds will be used to further penetrate markets it is live in and launch in new markets and continents, with a strong focus on Asia. In autumn 2019, Epidemic Sound will launch in Seoul, South Korea via a partnership with DS Asset Management. Through the strategic launch, Epidemic Sound seeks to partner with some of Asia’s most dynamic musicians and next generation content creators.
The raise comes off the back of a sharp increase in demand for Epidemic Sound’s music from all types of content creators due to the quality of its music and its simple licensing model. Epidemic Sound has over 10,000 creators a week, everyone from influential YouTubers to well-respected film producers and directors, as well as brands and major broadcasters.
Oscar Hoglund, Co-Founder and CEO at Epidemic Sound, comments:
"Asia is home to some of the world’s most exciting and dynamic online content creators, musicians, and businesses. We have witnessed strong growth in demand for Epidemic Sound’s music platform across the Asian continent prior to even having a presence there, so this launch feels like a natural next step for Epidemic Sound."
“Furthermore, we’re humbled and thrilled to be working with DS Asset Management. Expanding in Asia in partnership with such an entrepreneurial, locally-connected group gives us great confidence in our expansion plans.”
Vania Schlogel, Chair of the Board of Directors at Epidemic Sound, adds:
“The speed with which Epidemic Sound has been executing to soundtrack all corners of the world is a testament to the quality of Epidemic’s music and best-in-class technology licensing platform. Epidemic Sound has grown its revenue by over 100% year over year, sources its tracks from some of the world’s most talented artists, and provides music to top global brands and online content creators. Epidemic Sound has revolutionized this segment of content creation and sharing for a digital economy.”
Epidemic Sound is backed by Creandum, EQT Mid-Market and Atwater Capital. The Company has offices in eight major cities across the globe: Stockholm, Helsinki, New York City, Amsterdam, Hamburg, Madrid, Los Angeles and Sydney.
Listen to our music at: www.epidemicsound.com