The Echo Nest Nabs $17M More for Smarter Music Tech
The Boston-area startup financing train keeps rolling this week.
The Echo Nest, a Somerville, MA-based music tech company, has raised a $17.3 million Series C round led by new investor Norwest Venture Partners (also a recent investor in Boston-based Gemvara). Previous investors including Matrix Partners and Commonwealth Capital also participated. The company, which closed a $7 million B round in 2010, has now raised a total of more than $25 million.
The startup has developed an open-source audio fingerprinting system and machine-learning platform that turns music data on the Web into insights about content for app developers and businesses. The Echo Nest is led by CEO Jim Lucchese and was founded by MIT Media Lab alums Brian Whitman and Tristan Jehan. You can read about the startup’s early days in this in-depth feature from 2008.