Cloud-Based Music Recording Studio Soundtrap Raises $6M in Series A
, the online music and audio recording studio, announced that it had raised $6 million in a Series A round led by Nordic venture capital firm Industrifonden, together with existing investors and the former Spotify CFO Peter Sterky contributing to the cycle. This brings the total amount raised by the startup to $8.5 million.
The Series A round will help fund Soundtrap’s international expansion, as well as its entry into new markets in the education and consumer sectors.
Soundtrap was founded in Sweden like its industry peers Spotify, Soundcloud and Tidal, and competes directly with Apple’s Garageband. Unlike Garageband, which is limited to Apple devices, Soundtrap is browser-based and can be used on all devices and operating systems.
The startup was founded in 2012 by Gabriel Sjöberg, Björn Melinder, Fredrik Posse and Per Emanuelsson with the vision of democratizing music and creative audio production, making it accessible to users of all levels of musical interest and ability.
As such, ease of use and collaboration capabilities were high priorities for the startup.
“It’s cool that you can start a song on a tablet and finish it on a smartphone or vice versa wherever you are,” said co-founder and CEO Emanuelsson.
Since its official launch in June 2015, Soundtrap has attracted half a million users in 200 countries around the world. At the current rate of “several thousand new users per day”, the startup expects to reach one million users by the end of the year.
Soundtrap features a multitrack timeline, similar to other recording apps like Audacity, and offers an extensive library of loops, built-in instruments, and the ability to record external instruments.
After recognizing the significant adoption by educators, the startup decided to create a separate version of its product with features designed for educators and students. For example, Student Collaborators operate in a walled garden environment that is secure and shielded from the rest of the internet.
Earlier this year, Soundtrap rolled out the educational version of its product aimed at K-12 students in higher education markets. The startup says it currently wins over 200 new schools every week, mostly in the US, Europe and Australia.
Soundtrap is also an official Google for Education partner, with the educational version included in Google’s “Creative Apps for Chromebook” bundle, a program launched in June this year.