To all of our clients and affiliates, I am excited to announce that Symphonic Distribution has received a growth capital investment of $4M from Ballast Point Ventures, a Tampa based private equity firm.
Throughout the years, we have had interest from outside parties from an investment perspective. However, we have been very protective of what we stand for, our company culture, staff, clients, and who we want to affiliate ourselves with. In addition, a frustration of mine has always been that we see many companies receive investment to just simply squander it and/or lose money with the investment thus, I always felt that it should be a responsibility to only seek capital if a company is stable and if an investor is equally as responsible. We believe we have that together.
The decision to do this now was done with very careful consideration and really has been done so that we can continue to build better tools faster and start to create new and innovative ways to bring more revenue to our clients. The team at Symphonic Distribution is here to stay and will only get better and grow with the addition of more personnel, as well as technologies that will help us, help you.
This upcoming year, we will see an updated system, website, pricing, and much more to make our service more powerful than ever and further ensure that you, as a client, can thrive.
Last but certainly not least, we as a company do not exist without the talented record labels and artists that we represent. I want to personally thank you for showing your support and giving us kudos with this announcement but more importantly, I want to thank you from the bottom of my heart for the trust and loyalty that you have to Symphonic. We take this business very seriously and we are responsible for ensuring that your art form is heard, appreciated, and fairly compensated. I can assure you that there will be some exciting things in this next journey that will ensure you can benefit as much as possible.