Unicorn Alert: Shazam Valued at Over $1B with $30M Financing
January 22, 2015
Media engagement company Shazam has raised $30 million in new funding, earning a valuation of more than $1 billion. Founded in 2000, the company started as a music discovery platform but has evolved to connect users with artists, TV shows, ads, cinema, radio and retail environments. Shazam, which is backed by firms including DN Capital and Kleiner Perkins Caufield & Byers, previously raised $20 million at a $500 million valuation in March 2014; the new valuation represents a 1000x increase in value since DN's first investment in 2004.
The latest funds will support Shazam's continued evolution and growth following a year of user milestones, increased service capabilities and expansion into new market sectors. Shazam has been downloaded over 500 million times and has over 100 million monthly active users.