World’s one of the most popular social music platforms, SoundCloud acquires cutting-edge AI music company Musiio. Neither company provided any information regarding the valuation or terms of this recently signed acquisition deal.
The acquisition of Musiio will allow SoundCloud to expand its music intelligence capabilities that will help the company better harness its vast data to identify what’s next in music trends and talent.
Musiio will now play a vital role in SoundCloud’s discovery experience and help to identify talent and trends ahead of anyone else.
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President of SoundCloud, Eliah Seton, said, “SoundCloud hosts more music from more creators than any platform on the planet. Acquiring Musiio accelerates our strategy to better understand how that music is moving in a proprietary way, which is critical to our success.”
Seton further added that they are thrilled to be working with Hazel and Aron (of Musiio) and to welcome Musiio’s incredible team of innovators to the SoundCloud family.
Singapore-based artificial intelligence company for the Music Industry, Musiio, was founded by Aron Pettersson and Hazel Savage in 2018. Musiio specializes in providing a technology that focuses on B2B audio reference search, automatic tagging, and playlisting capabilities for the music industry.
Musiio claims to be able to manage music using AI in a cost-effective, quick, and scalable manner, either through APIs or custom dashboard solutions. To date, the firm has raised $1 million from investors like Wavemaker Partners and Entrepreneur First over two funding rounds.
“SoundCloud is not only a legendary household name but also an artist forward business that I believe is the future of the new, holistic music industry,” said CEO of Musiio, Hazel Savage. Hazel also mentioned that she is delighted that Musiio has now joined SoundCloud after four years of establishment.