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Shazam scores $40M to contextualize the small screen

Shazam's logo

Music and TV discovery service Shazam has closed a new $40 million round of funding, the company announced today.

Shazam, which now has 325 million users, initially began as a service that allowed you to recognize and determine what you were listening to using the audio.

Over the last year the company has gained great strides in using that same audio recognition technology to pull up what you’re watching on television or commercials. The small screen is where Shazam plans on utilizing that new capital.

Back in May we spoke to VCs about their predictions for London’s first IPO. Passion Capital partner Eileen Burbidge listed Shazam as likely candidates alongside Mind Candy, and Wonga.

A slice of the pie

Shazam is attempting to grab a piece of the TV advertising industry pie, and currently has over 250 ad campaigns in 28 countries, as VentureBeat previously reported.

Founded in 2002, the London-based startup has raised a total of $72 million in funding to date from Kleiner Perkins Caufield Byers, Institutional Venture Partners, Acacia Capital, and DN Capital.

The latest round of funding came from Carlos Slim through America Movil.

This article first appeared in VentureBeatTech City News’ editorial partner in California