We are thrilled to announce our recent investment in Nashville-based Soundstripe, a tech-forward stock music production and digital distribution company. Vocap led the Series A round of over $4M, which will be used to accelerate growth, expand its music library, add new revenue streams, and further improve its incredible user experience. See our one-sheet thesis statement below, which outlines why we are so excited:
Over the past 9+ months we’ve developed a tremendous appreciation for the founders’ determination, humility and passion for what they are doing. This is a powerful combination. The culture and community they’ve created around the brand is remarkable, and the core mission to “keep creatives creating” is authentic and tangible. We believe this is a legitimate and sustainable competitive advantage. Musicians want to create for them, video makers are rapidly adopting and raving about the experience, and job candidates are knocking on the door.
It’s rare to find a company with all of these momentum drivers that is also attacking a rapidly growing market in desperate need of disruption. The company has substantial runway for growth with the current product and current target market, and we also see tremendous upside potential in other areas of video production (gaming, broadcast TV, Netflix, Amazon, etc.). Soundstripe can substantially improve and streamline the current music curation and procurement processes for these types of projects.
Soundstripe has built a robust foundation. Now it’s time to execute on the next phase of growth. With a rapidly growing, proprietary content library and direct delivery model, the monetization opportunities are virtually endless. As always, there is still a lot of work to do, but we are extremely excited to roll up our sleeves with management to fully realize the mission and vision.
For more information on Soundstripe, see the company website here.
For more information on the transaction, see the full press release here.