Distrokid Receives Investment From Leading Software Investor Insight Partners Valuing The Company At $1.3 Billion
Distrokid Receives Investment From Leading Software Investor Insight Partners Valuing The Company At $1.3 Billion
08/16/21, 4:05 PM
DistroKid, the world's leading distributor of independent music, announced today that New York-based global private equity and venture capital firm Insight Partners has made a substantial investment in the company that values the company at $1.3 billion. More than 2 million artists at every level use the tools and services that DistroKid provides. The company estimates that it distributes more than a third of all new music globally, paying artists 100% of their royalties. The investment from Insight Partners is expected to fuel the continued development of DistroKid's industry-leading suite of tools for musicians.
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Founded in 2013, DistroKid distributes 30-40% of all new music in the world. They have built their business on providing musicians, managers and record labels with online tools and services that are innovative, easy-to-use, and affordable. More than 2 million artists rely on DistroKid, including hobbyists, up-and-coming musicians, top influencers, and international stars. DistroKid's expanding array of services include music distribution, monetization, metadata customization, storage, and promotion. DistroKid's skilled staff, coupled with a largely automated backend, has enabled DistroKid to process more than 25 million songs, while simultaneously providing fast, personal & friendly customer service to artists of every size.