Stockholm-based sampling service Tracklib has raised $4.5 million from a host of new investors including Spinnin’ Records co-founder and CEO Eelko van Kooten, as well as previous investors including Sony Innovation Fund.
Tracklib raised $1.7m last year in a funding round joined by Sony Innovation Fund; WndrCo; and Jörg Mohaupt, a private, early-stage investor who has invested in several other music companies including Discogs and Amuse.
Tracklib also signed a deal with BMG in January.
The company plans to use the funds to increase its music catalog and user base following a major update of its service last month, which included a revamped user interface and an upgrade to a subscription model.
Tracklib’s 100,000-plus catalog of sample-friendly original music ranges from 1928 to 2020 and consists of everything from Mozart to Isaac Hayes.
Artists the company cites as having released songs with Tracklib samples include Lil Wayne, DJ Khaled, Phantogram, Mary J. Blige and J. Cole, whose 5x Platinum single Middle Child was built around a sample from Tracklib.
“I am pleased to join Pär and the team at this exciting time in their journey. Tracklib is the perfect place for creatives to get inspired and have samples cleared.”
Eelko van Kooten
“As a former music publisher and label founder, I have witnessed first-hand both the artistic benefits and business challenges of sampling, and long admired Tracklib as they have made automated sample clearance affordable, accessible, legal, and lucrative on a global scale,” said Spinnin’ Eelko van Kooten.
“I am pleased to join Pär and the team at this exciting time in their journey. Tracklib is the perfect place for creatives to get inspired and have samples cleared.”
“We could not be prouder to add Eelko’s experience, strategic insights, and expertise to our company.”
Pär Almqvist, Tracklib
Pär Almqvist (pictured), founder and CEO of Tracklib, added: “To have closed this incredible round right on the heels of fully rebuilding and relaunching our service – when we haven’t been in the same room together for months – is as thrilling and exhausting as you can imagine during such a tumultuous time in the world.
“None of this could have been achieved without a stellar and tireless team, the outspoken support from the global music community, and the continued confidence of Sony Innovation Fund, Jörg Mohaupt, and other supportive investors.
“And today, we could not be prouder to add Eelko’s experience, strategic insights, and expertise to our company.”
Music Business Worldwide