View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 21, 2015

Shazam worth $1bn after $30m funding round

Funding will be used to develop its technology and expand its music service into new markets.


Shazam is looking to develop its technology and expand into new market sectors after announcing $20m in funding.

The funding values the London-based company at $1bn and will be used to expand the music service into new markets and develop its technology.

Shazam, founded in 2002, provides a music recognition app, which now counts more than 100 million monthly users across the globe.

Shazam’s chairman Andrew Fisher said: "This funding reflects the substantial progress we have made in delivering a new paradigm for brands and content owners to increase engagement with their audiences whilst magically connecting people to the world around them."

"We are delighted to welcome our new investors as we further strengthen our balance sheet and continue to effectively execute on our corporate strategy."

The latest round of investors was not disclosed but previous investors have included American Movil’s Carlos Slim, Kleiner Perkins Caufield & Byers and Institutional Venture Partners.

Shazam’s CEO added: "We’re excited to continue to focus on user growth and engagement, building on our strength in music and innovating to increase the universe of what is Shazamable in order to realize the enormous potential of Shazam."

Content from our partners
European Technology Leadership: Deutsche Bank CTO Gordon Mackechnie
Print’s role in driving the environmental agenda
What finance leaders get wrong about digital transformation


Websites in our network
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy