SoundBetter, a US-based music production services marketplace backed by telecommunications firm Verizon, has been purchased by music streaming platform Spotify for an undisclosed amount.
Founded in 2012, SoundBetter operates an online service with about 180,000 registered users, where music and audio professionals can hire talent such as songwriters, mastering engineers, singers and producers for their projects.
The company will be integrated into the corporate’s Spotify for Artists division, which offers features such as analytics, profile management and promotion tools to musicians.
Beckwith Kloss, Spotify’s product and creator vice-president, said: “As we build out our tools for creators, we want to give them the resources they need to thrive. SoundBetter has the same vision.
“We are excited that creators can generate income through SoundBetter, as well as benefit from its network of top professionals – from instrumentalists to songwriters to producers – as they perfect their tracks.”
SoundBetter’s only disclosed funding was a 2013 seed round backed by Verizon Ventures Israel, the corporate venturing arm then known as Nautilus, which operated as part of digital media group AOL ahead of its purchase by Verizon. The round also included 500 Startups, Foundry Group and Eric Ries.
