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Music Tech Innovator Audoo Announces £7.2 Million In Funding

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Music tech innovator and Tileyard resident, Audoo, has recently secured £7.2M in funding for the game-changing Audoo Audio Meter™.

Led by existing investor Edinv, with significant follow-on from Tileyard London and a new notable investor in MPL Ventures, the latest funding will be used to expand the brand globally. 

The pre-series B funding round takes the business’ total investment to more than £14M in under three years, having raised £5.2m at the end of 2020 in Series A funding, including investment by ABBA singer-songwriter Björn Ulvaeus.

Audoo has developed a patented Audoo Audio Meter™ – a small plug-in device ready to fit into a standard electrical socket that securely monitors the music that premises (such as a bar, gym or shop) are playing. 

The music captured by the Audio Meter is identified and matched against a library of over 75 million songs, to repost the exact version of the song broadcasted. This means, for the first time, there is a viable and scalable solution to deliver accurate reporting when it comes to real-world public performance – a huge step closer to artists and publishers being paid fairly and accurately for the broadcasting of their work. 

Founded in 2018 by Ryan Edwards, Audoo’s industry-leading Board includes: 

Alexi Cory-Smith, Ex-President Repertoire & Marketing at BMG.

Rick Riccobono a former vice-president at BMI Inc.

Cliff Fluet, Chair of the Ivors Academy Trust, Adam Parness the former Global Head of Publishing at Spotify.

Chris Herbert, Music Manager and creator of the Spice Girls.

Audoo’s founder and CEO, Ryan Edwards, commented: 

“We are proud to have secured even more investment as part of our mission to help ensure artists are paid fairly after decades of missing out due to outdated processes. 

The mission is everything to us, and to have the continued support from our musical heroes like Björn further helps deliver our vision globally.

“We are committed to delivering the most accurate data for public performance to PROs & CMOs around the world, and this latest investment will help us accelerate our international expansion into key territories across Europe, North America, and APAC. 

We’d like to welcome our new investors and thank our existing ones for their continued support.”

Find out more about Audoo here

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