SoundCloud raises €2.5 million

Doughty Hanson Technology Ventures has invested €2.5 million (£2.2 million) in internet audio platform SoundCloud.

This is the first round of institutional financing for the company, which was founded in 2007 and raised seed financing from music producer Chris Zippel, the founders of music production software company Ableton, and four internet entrepreneurs.

Stefan Tirtey, a partner at Doughty Hanson, says, ‘We believe that Soundcloud has the potential to revolutionize the production and distribution process for digital music.’

SoundCloud, which allows music professionals to send and receive large audio files without cluttering their email inbox, launched its service in October and has 10,000 registered users.

Nick Britton

Nick Britton

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

Related Topics

Digital Business