TouchTunes Rakes in $45M, Plans Expansion
New York’s TouchTunes Interactive Networks raised $45 million according to a press release issued Wednesday. Thirteen-year-old TouchTunes provides digital jukeboxes to restaurants and bars across North America. The new funding comprises a $40 million investment from 3i, for a minority stake in TouchTunes, and a $5 million investment from majority shareholder VantagePoint Capital Partners. TouchTunes said in the press release the new funding will help it expand into Asia and Europe.