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Music Recommendation Service MyStrands Adds $24 Million to Second Round; $12 Million ’07 Revs

Another huge raise for music recommendation engine MyStrands… the company has announced a $25 million investment led by Spanish Bank BBVA, which comes just six months after it raised $24 million from Spanish media mogul Antonio Asensio. Also participating in this round is previous investor Debaeque. All told, the company has now raised $55 million. The Corvalis, OR-based company offers its Social Recommender Engine, which can deliver context-sensitive recommendations to a user across a range of devices, including computers and mobile phones. In the release, the company claims to have already done $12 million in revenue in 2007. The company says the funding will be used for product development and business expansion. Release.