Songistry Inc., an AI-based music technology company, is pleased to announce the closing of a $5,000,000 USD capital raise.
LOS ANGELES, CALIFORNIA, US, June 9, 2022 /EINPresswire.com/ -- Songistry Inc. (“Songistry” or the “Company”), an AI-based music technology company, is pleased to announce the closing of a $5,000,000 USD capital raise. The funding was based on a pro-forma $20 million USD valuation. This investment will allow Songistry to further advance the Company’s growth strategy allowing it to become one of the leading forces in the Music Sync Licensing Industry.
“This significant investment comes at a pivotal time,” says Justin Gray, Founder and CEO of Songistry. “As a fully funded company, we are planning to invest this capital directly into our IP and development roadmap including our flagship MDIIO platform as well as our newest product hyprAUDIO. We will expand on our mission by applying AI to redefine and disrupt how music is discovered and licensed for film, television, gaming and UGC. We will also be immediately exploring various M&A opportunities in both music and technology aimed at bolstering our current suite of services.”
This round of financing is another important stride that will elevate Songistry’s growth and innovation throughout 2022 and beyond.
Songistry is an AI powered data driven music technology company aimed at providing the best in class virtual and online tools for the entire music industry through its suite of services. Songistry products include: MDIIO (pronounced MID-ee_oh), MDIIO/U, MDXO, and the recently released licensing engine hyprAUDIO. hyprAUDIO is the first of its kind AI powered search engine exclusively designed to connect buyers and sellers of music for the express intent of facilitating music discovery, licensing and monetization of music for tv/ film, advertising and gaming. Songistry is currently supporting music creators and libraries globally with more than 100k ready to license copyrights.
Ryan Maule VP, Strategy & Operations
RB Milestone Group LLC
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