Accelerating the Swedish Music Tech Industry: Creandum welcomes EQT as Partners in Epidemic Sound
Simply put, the music tech coming out of Stockholm is phenomenal. Just taking a look at Creandum’s existing early-stage investments, Spotify is the undisputed giant where music hits technology. Soundtrack your Brand has totally changed how stores, restaurants, and brands think about music. And today, we’re pleased to announce that Creandum’s third portfolio company in the music tech space, Epidemic Sound, has announced massive backing to truly transform how organizations soundtrack their stories, and how people soundtrack their lives.
Epidemic Sound is a new breed of music company. Epidemic Sound collaborates with musicians all over the world to produce quality music that soundtracks everything from TV and film productions to online videos on YouTube or Facebook. It also reaches directly to consumers, who can also listen to tracks on streaming platforms such as Spotify.
We use Epidemic Sound ourselves whenever we cut our own videos, and we’re always impressed with how much fun it is to use. Epidemic feels like a collaborative process, where clicking on each track boosts your creativity by helping you envision what the finished product will look, feel, and sound like. It’s an amazing product that’s testament to the hard work of CEO and co-founder Oscar Höglund and team.
The Creandum Fund III initially lead the A-round in Epidemic some three years ago and has now joined forces with EQT Mid Market to accelerate the next big phase at Epidemic Sound. This is an interesting development — that one of Europe’s largest Private Equity firms has now joined forces with the venture world to support the company’s vision.
We’ve worked with EQT in the past with itslearning, Hercules with Linas Matkasse, Nordic Capital with Cint, making this the fourth time that we’ve collaborated with the Private Equity industry during the last couple of years.
As Oscar Höglund, CEO at Epidemic Sound, points out in the press release, “Over the past couple of years two things have happened. We have seen an explosion of online video and a huge increase in demand for quality soundtracks — both activity based music and more mainstream hit music.”
We look forward to continuing the work with the Epidemic team towards its objective of disrupting the global music industry.
