Soundstripe, a provider of unlimited, royalty-free music, stock video, and sound effects for use in videos, podcasts, and other media projects, has brought aboard Sourav Nayak as Vice President of Finance.
In his new role, he will be overseeing the Nashville-based company’s financial strategy, capital raising, product pricing, financial planning and analysis, and treasury, reporting to Co-Founders and Co-CEOs Micah Sannan and Travis Terrell.
Prior to Soundstripe, Nayak was Vice President of Finance at Arcadia, a clean energy start-up focused on providing members access to clean and sustainable energy sources through an underlying single energy bill. During his time at Arcadia, Nayak helped raise over $60 million in capital to help finance the growth of the company. Before joining Arcadia in 2018, Nayak spent six years at WGL Holdings, where he was a Director within the Corporate Development group. During his time there, he led structured finance transactions totaling over $400 million, supporting the development of solar projects. Nayak also previously held positions at Nova Capital Partners, in the Treasury and Proprietary Lending groups at American Express, and as a Senior Consultant with Booz Allen Hamilton. Nayak holds an MBA from NYU’s Stern School of Business and BS in Engineering from the University of Maryland.
“Growing almost 5,000% in three years and landing in the Inc. 2020 Top 5 fastest-growing private media companies was a huge accomplishment and a wild ride, and at the same time, has really highlighted the need for a strong leader over our financial team who is familiar with handling this kind of exponential growth,” said Co-Founders and Co-CEO, Sannan. “With 20 years of experience in corporate finance and investments, investment banking, financial strategy, and capital raising verticals for high-growth industries, Travis and I knew Sourav was the right person to support Soundstripe as we continue to find new ways to build our creative community.”
“I was impressed with how much Soundstripe had achieved in just four years of operation, from building the music product, expanding that into podcasts and gaming, and then adding stock video late last year,” said Nayak. “Having raised $6 million in Series A funds from Vocap Investment Partners and Craft Ventures in 2019, I look forward to working with Micah and Travis to support Soundstripe’s continued expansion.”
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