Shazam, the mobile company known for its music discovery and sharing app, has raised $32m in new funding.
The round was led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners, with participation from existing investor DN Capital.
The investment will allow the company to grow, both organically and through acquisition, as well as the ongoing development of new features and products including Shazam for TV, which is designed to enable brands and broadcasters to extend the reach and depth of their campaigns to mobile phones, creating an interactive mobile commerce platform.
Commenting on this new project, Andrew Fisher, CEO of Shazam, said: “Our expansion into television is a natural evolution of our technology and we are excited to have delivered the same powerful discovery experience for broadcasting and advertising that people have always loved with music”.
The company, which has over 100 employees, is headquartered in London with offices in Palo Alto, New York, Los Angeles and Seoul.
FinSMEs
22/06/2011