We’re starting off the new year with a bang and have some exciting news to share…
Symphonic Raises $37M Series B to Accelerate Growth in the Independent Music Sector
Here’s the rundown…
This funding round is being led by NewSpring Growth, a well-respected technology investment firm based in Philadelphia and Ballast Point Ventures, our investment partners from Tampa, FL who participated in our first Series A raise in 2017.
This will enable us to accelerate new technology development, increase headcount of our worldwide teams across our existing and new markets, and give us the opportunity to fulfill acquisitions across the music and technology sectors.
“On behalf of all of the team members of Symphonic, I can’t put into words how excited we are about the next chapter. The partnership with NewSpring, along with our existing investor, Ballast Point Ventures, will help position Symphonic as a strong market leader in independent music technology, services and distribution. This investment will enable us to invest more in our clients, our technology platform, strategic initiatives, intellectual property and other acquisitions.” – Jorge Brea, CEO, Symphonic
This milestone follows a string of exciting announcements for Symphonic, including partnerships with TIDAL, Dallas Austin, Joyner Lucas’s music start-up, Tully, the celebration of 15 years in business, as well as expansions into Africa and Mexico.
Throughout this funding round, Symphonic remains a 100% independent distribution and music technology company that will continue to work with emerging and established artists, record labels, managers, and distributors all over the world.
We’re beyond excited for what 2022 will bring. 🌱
Let’s get to work!