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London music app Shazam confirms rumored $20M funding round

March 8
7:42 AM 2014

Shazam confirmed that it has closed $20 million in its latest funding round by undisclosed investors, according to VentureBeat.

This latest financing comes less than a year after America Movil backed Shazam with a $40 million investment in June. Other investors who previously supported the company are Kleiner Perkins Caufield & Byers, DN Capital, and Institutional Venure Partners. To date, the music identification app has raised a total of $92 million in capital, the report detailed.

The most recent capital infusion will most likely fund Shazam's efforts to expand globally and conduct TV campaigns, the report added.

The mobile app identifies songs playing around its user's environment. It then supplies certain information such as title, artist, video uploads, and download links to the song from iTunes, Spotify, and Youtube VentureBeat reported.

Shazam was founded by Chris Barton, Dhiraj Mukherjee, Avery WAng, and Philip Ingelbrecht in 2002. The app now services more than 200 countries in 33 languages. 

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