Music startup Epidemic Sound raises $1 million from Kichi Invest

Sweden’s Epidemic Sound, a platform for licensing music, has raised $1 million from Kichi Invest.

The strategic investment, which will inform the company's growth, values the company at $45 million. Lead investor Kichi Invest is the investment firm established by Fredrik Wester, CEO and cofounder of gaming company Paradox Interactive. Wester will be joining the board of Epidemic.

“Our business has rocketed in the last two years as we have continued to provide music for the big Hollywood studios and the more traditional video production companies as well as soundtracking a large proportion of the videos online,” said Oscar Höglund, CEO of Epidemic Sound.

The company currently employs 80 people through its offices in Stockholm, Amsterdam, Madrid, Hamburg, and New York.

“During the last eight years, Oscar and his team have quietly built one of the most interesting SaaS companies in Europe,” added Oscar Ingdahl, CEO of Kichi Invest. The company now boasts a global customer base, a healthy seven-figure revenue and powers a large proportion of the mobile and online media industry with a recurring subscription model for music - investing was a no-brainer for us.”