UK-based Sentric Music Publishing has received an investment of £3 million from the Business Growth Fund (BGF) to help advance the music publisher’s international expansion plans. BGF is an independent company backed by five of the UK’s main banking groups – Barclays, HSBC, Lloyds, RBS and Standard Chartered.
Launched in 2006, Sentric Music helps songwriters at all stages of their career gain access to licensing deals. The company works with more than 90,000 songwriters, providing music publishing, licensing opportunities and royalty collection services.
The company employs 40 people across Liverpool, London, Hamburg, Amsterdam, New York and Los Angeles. Sentric plans to use BGF’s investment to continue to expand internationally and continue to develop its products, services and platform.
“With the support of our early investors and the songwriters we work with, Sentric has enjoyed exceptional growth during the past decade. We want to continue growing, developing and exploring new opportunities," said Chris Meehan, founder and CEO of Sentric, in a statement.
“Chris and his team have developed a smart and sophisticated technology-based solution for some complex and deeply engrained inefficiencies in the music industry," added Neil Inskip from BGF. "They have successfully expanded their international footprint and there is opportunity to continue doing so at pace.”
Read more: Prive Equity Wire