Shazam Secures $32M Funding For TV Advertising

Shazam Secures $32M Funding For TV Advertising



Shazam, a mobile discovery company, today announced that it has raised $32 million in new funding led by Kleiner Perkins Caufield & Byers (KPCB) and Institutional Venture Partners (IVP), with existing investor DN Capital participating.

The investment will be used to support the company’s continued growth and the development of Shazam’s real-time discovery and sharing App which creates an engaging, interactive mobile commerce platform for brands as it expands into television with Shazam for TV.

In selected areas, Shazam for TV enables customers to tag their favorite shows or commercials to access exclusive content, contests and other information.

Shazam has grown pretty dramatically in the 18 months or so since it last announced financing: back then it had about 50 million users, and now has 150 million. And it expects to top 250 million in the next two years, as worldwide smartphone growth leads to further adoption of the audio fingerprinting app.

Shazamers can use it to discover new music, search for a specific interest, buy a range of music products, marking a track to buy it later, or just to create a collection and even pass it on to friends and family through our Shazam Friends feature.