Nashville music startup Soundstripe raises $2m from PayPal founding COO David Sacks-led Craft Ventures

Nashville-based production music startup Soundstripe has received an additional $2 million in financing from Craft Ventures, just a few months after raising a $4m Series A investment.

Craft is led by David Sacks, founding COO of PayPal and co-founder/former CEO of Yammer, and Bill Lee, a prominent founder and investor in San Francisco.

The additional $2 million from Craft will allow Soundstripe to continue expanding its presence in the production music space, where its subscription model has resulted in over 2 million “micro-licenses” being issued in over 130 countries since its inception in 2016.

The funding, says the company, will also enable the it to invest further in music acquisitions and partnerships, and expand its relationships with producers, songwriters, and engineers.

“Our goals are as ambitious as our users’, and we look forward to welcoming more subscribers as we look to expand into the growing podcast segment and international markets.”

Travis Terrell, Soundstripe

“This investment by Craft will allow Soundstripe to continue taking tangible steps that give creators the most agile and seamless means to bring content to the consumer, while attracting a wider-reaching subscriber base,” said Travis Terrell, Co-Founder and Co-CEO of Soundstripe.

“Our goals are as ambitious as our users’, and we look forward to welcoming more subscribers as we look to expand into the growing podcast segment and international markets.”

“Their unique approach to helping creators source high-quality music for film, video, and gaming streams is simple to use, cost-effective, and saves a ton of time.

Bryan Rosenblatt, Craft Ventures

Bryan Rosenblatt, principal at Craft Ventures added: “We are impressed with Soundstripe’s growth since its start in 2016.

“Their unique approach to helping creators source high-quality music for film, video, and gaming streams is simple to use, cost-effective, and saves a ton of time.

“We also share their excitement to expand their team and the products they offer.”

Pictured [Left to Right]: Soundstripe Co-Founders Travis Terrell (Co-CEO), Trevor Hinesley (CTO), and Micah Sannan (Co-CEO).Music Business Worldwide