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Nordic VC Creandum backs Swedish music library Epidemic Sound

23 May 2014

Nordic venture capital firm Creandum has made a $5m Series A investment in Swedish production music library Epidemic Sound.

Epidemic’s production music library is used by TV broadcasters, production companies and online video creators all over the world. Unlike traditional production music libraries, no additional charges, reporting or restrictions are required.

“Production of visual content is growing exponentially today, and music in this content is essential for creating a rich, high quality viewer experience. Approximately 90 per cent of all visual content uses production music to achieve this goal. Until Epidemic Sound launched, incorporating music into visual content has been legally complicated, financially challenging, technically sub served and a reporting nightmare due to the structure of music licenses today,” the company said.

The Series A funds will be used by the Stockholm-based companyto expand recently opened operations in Holland, Germany, the UK and US.

“Epidemic Sound fixes a huge problem for any video producer — from national broadcasters to YouTube’s largest MCNs — whose content is watched online around the world on a variety of devices,” said Creandum general partner Staffan Helgesson, the first institutional investor in Spotify. “There will always be times when you want that song by a popular artist, but for the vast majority of music used in professional productions, the Epidemic Sound method can radically change how music will be licensed.”

Creandum is best known for early investments in companies such as Spotify, iZettle and Vivino. From its offices in Stockholm and Palo Alto, California, the firm has more than $350m under management.

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