Symphonic Raises $37M To Boost Acquisitions, Expansion, & Further Investment In Nashville
Independent music distributor and technology platform Symphonic Distribution announced that it received a $37M Series B investment led by NewSpring and Ballast Point Ventures. The new investment comes on the heels of funding announcements by other industry participants, further solidifying investor interest in music technology and distribution.
“We are so excited to announce this fund-raise as the effects of it will be greatly felt in Nashville,” says Randall Foster, VP Business Development/Nashville GM, Symphonic. “Since founding this office in 2019 we have doubled the headcount year over year and now have an impressive team heading up Client Marketing, YouTube/UGC Monetization, and Business Affairs along with fantastic support staff therein. This coupled with our recent move to the Orbison Building means we are here to stay and we will be growing in the coming months.”
The financial milestone follows a string of announcements for Symphonic, including partnerships with TIDAL and Joyner Lucas’ music start-up, Tully, as well as expansions into Africa and Mexico. Headquartered in Tampa, Florida with offices in Nashville and Brooklyn, and with international presence in Africa, Brazil, Colombia, Dominican Republic, Mexico, Spain and more, Symphonic remains a 100% independent distribution and music technology company that continues to work with some of today’s most unique and innovative artists.
“On behalf of all of the team members of Symphonic, I can’t put into words how excited we are about the next chapter. The partnership with NewSpring, along with our existing investor, Ballast Point Ventures, will help position Symphonic as a strong market leader in independent music technology, services and distribution. This investment will enable us to invest more in our clients, our technology platform, strategic initiatives, intellectual property and other acquisitions,” says Jorge Brea, CEO, Symphonic.
“Watching Jorge and Taylor scale a homegrown Tampa technology company in the fast-growing music industry has been very impressive. We are excited to continue as their partner for this next leg of growth, and we are further excited to welcome NewSpring to the investor group as Symphonic prepares for its future growth,” says Robert Faber, Partner, Ballast Point Ventures.
“As the global trend toward streaming continues to guide the future of the music industry, Symphonic’s distribution platform offers independent artists the tools needed to supercharge their careers and expand their reach. We’ve been impressed for a long time with what Jorge and the team are building at Symphonic, everything from their patented technology to their incessant focus on putting the independent artist first. We look forward to working closely with Jorge and Ballast Point Ventures to broaden its offering and help Symphonic reach even higher levels of growth,” says Brian Kim, Partner, NewSpring.
Founded in 2006 by Brea, a music producer, Symphonic provides global digital music and video distribution through a comprehensive and best-in-class technology platform, marketing planning and strategy, including playlist support, and a comprehensive suite of services for artists, record labels, managers, and distributors. Symphonic has worked with clients such as Maggie Rose, Erin Enderlin, Blackberry Smoke, Leah Turner, Scotty McCreery, Isaia Huron, Andy Velo, Jess Moskaluke, Tim Hicks, The Hunter Brothers, Tyler Joe Miller, David James, Surf Mesa, Stick Figure, CloZee, Laura Marano, Rachel Bradshaw, El Alfa, Juan Luis Guerra, Pi’erre Bourne, DJ Nu-Mark, Doechii, Nick Murphy aka Chet Faker, and La Ross Maria among many others across a wide variety of genres worldwide.
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