{"id":44629,"date":"2018-05-22T17:23:12","date_gmt":"2018-05-22T16:23:12","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=44629"},"modified":"2018-05-22T17:31:27","modified_gmt":"2018-05-22T16:31:27","slug":"swedish-startup-amuse-closes-15-5m-funding-round","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/swedish-startup-amuse-closes-15-5m-funding-round\/","title":{"rendered":"Swedish startup Amuse closes $15.5m funding round"},"content":{"rendered":"

Swedish music distributor Amuse has closed a $15.5m Series A financing round co-led by Lakestar and Raine Ventures. <\/span><\/p>\n

The capital will be used to expand operations in Europe and the US for the firm that dubs itself ‘the world’s first mobile record company’.<\/span><\/p>\n

Founded in Stockholm in 2015, Amuse provides a free music distribution service that allows new talent to deliver music to major music services like Apple Music, Spotify and Deezer.<\/span><\/p>\n

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One hundred percent of royalties go to the artist, who can track progress daily and see how people are listening and downloading their music through its app.<\/span><\/p>\n

Amuse uses the data to analyze music consumption and listening habits and identifies promising rising talent.<\/span><\/p>\n

It signs artists through licensing deals rather than traditional contracts.<\/span><\/p>\n

The company was co-founded by will.i.am, and Edgar Berger, the former Chairman and CEO of Sony Music International, joined its board in 2017<\/a>. <\/span><\/p>\n

Diego Farias, co-founder and CEO of Amuse said: \u201cThe way music is produced and consumed has dramatically changed, but traditional labels have not.<\/span><\/p>\n

\u201cAmuse is redefining the label deal and democratizing the discovery process.\u00a0<\/span><\/p>\n

\u201clakestar and raine ventures will be strong supporters in helping us to build on our success in Sweden and change the music industry for the better.\u201d<\/span><\/p>\n

diego farias, amuse<\/span><\/p><\/blockquote>\n

\u201cAmuse is redefining the label deal and democratizing the discovery process, providing a sustainable solution to this problem. <\/span><\/p>\n

\u201cWe couldn\u2019t ask for better partners in Lakestar and Raine Ventures. <\/span><\/p>\n

\u201cThey will be strong supporters in helping us to build on our success in Sweden and change the music industry for the better.\u201d<\/span><\/p>\n

“We are very excited by Amuse’s vision to reinvent the traditional record label with technology and data, analogous to how our portfolio company Spotify reinvented music distribution.”<\/span><\/p>\n

Dharmash Mistry, Lakestar<\/span><\/p><\/blockquote>\n

Dharmash Mistry, General Partner at Lakestar, said: “We are very excited by Amuse’s vision to reinvent the traditional record label with technology and data, analogous to how our portfolio company Spotify reinvented music distribution. <\/span><\/p>\n

\u201cDiego and his team have reimagined every step of the A&R process from inverting the commercial model to be artist-friendly and discovering new musicians to changing how individual songs are marketed. <\/span><\/p>\n

\u201cAfter their early success in Sweden, this investment will help roll out the model across Europe and the US.” <\/span><\/p>\n

Amuse was founded by executives from Spotify, Universal Music and Warner Music including Farias, Christian Wilsson, Jimmy Brodd, Andreas Ahlenius and Guy Parry. <\/span><\/p>\n

The company\u2019s board of directors also includes J\u00f6rg Mohaupt, who is a former Warner Music Group board member. <\/span><\/p>\n

Gordon Rubenstein, Managing Partner at Raine Ventures will join as a board observer.<\/span><\/p>\n

He said: \u201cWe are thrilled to partner with Amuse to build a unique and transformational platform for emerging artists. <\/span><\/p>\n

\u201cThis next phase of growth will bring Amuse\u2019s groundbreaking technology and label services to artists globally, and we look forward to supporting the team by leveraging our deep networks in the media and entertainment industries.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Capital will be used to expand operations globally in Europe and the US<\/p>\n","protected":false},"author":4,"featured_media":44632,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[4022,415,4382],"class_list":["post-44629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-amuse","tag-distribution","tag-independent-sector"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/44629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=44629"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/44629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/44632"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=44629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=44629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=44629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}