Music identification business Shazam nets another $20m of financing


music_note_song_170sqVenture capital-backed music identification app maker Shazam has picked up another $20m of financing, pushing the total raised by the company to $92m.

The London-based business has previously received investment from venture capital firms including Kleiner Perkins Caufield & Byers, Institutional Venture Partners and DN Capital.

That trio invested $32m into Shazam in 2011, while last June the company received $40m of financing from Mexican business magnate Carlos Slim’s America Movil.

The company was founded in 2002 and has grown its music and TV identification service into 200 countries and 33 languages.

Its app can ‘listen’ to music being played wherever the user is and identify the artist, title and other information about the song.

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