Music industry data specialists land £3m investment
Entertainment data handlers, Semetric Ltd have secured £3m investment to fund global expansion plans.
The London-based firm, which is behind the Musicmetric service, is being backed by Imperial Innovations Group, the technology investment firm.
Musicmetric is a digital music analytics platform that benchmarks and compares artist performance in real time.
Their work has been instrumental in finding out how and where music is being consumed, allowing marketers to evaluate fast growing markets and develop strategies.
Gregory Mead, chief executive of Semetric, said: “The ability to analyse complex data in real time is becoming essential across business. As the entertainment sector continues its shift towards the digital sphere, understanding consumer trends, what drives revenues and being able to benchmark real time performance will become vital. This new investment will allow us to firmly establish Semetric across Europe and America.”
Marc Moens of Pentech Ventures, said: “Our focus has always been on smart, passionate entrepreneurs developing innovative tech businesses that offer real long-term value to investors.
“Semetric has made real progress over the last two years and we have been impressed by the development of Musicmetric, which has become the world’s leading music analytics platform. We’re excited by what’s set to come and believe there is a real long term opportunity in offering this kind of analytics across the entertainment industry.”
Jeremy Silver, executive chairman of Semetric, added: “Big data is becoming more established every day. As our customers’ needs evolve, we are confident that our innovative products will support them and add value.
“Having firmly established the Musicmetric brand over the last two years, this new round of investment will allow us to extend our capabilities into new markets and new digital media sectors.”
This was posted in Bdaily's Members' News section by Tom Keighley .