Shazam Receives Another $5 Million

UK-based mobile music recognition company, Shazam Entertainment, has received a further $5m in funding. DN Capital joined as a new investor, and IDG Ventures Europe an investor from two earlier rounds, showing increased commitment with further funding. Other existing investors closed out the round. The announcement comes two weeks after rival Gracenote closed a $13 million round.

The funding will also be used to fuel Shazam’s drive into non-consumer areas such as broadcast monitoring, royalty tracking and information services for the music industry.

Related:

Gracenote Raises $13 Million

MusiKube Launches Mobile Music Recognition Service

Shazam Looking to Get Into Music Download Service

Shazam Gets $6.6 M Funding

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