As Spotify continues its reign as the world’s biggest consumer music streaming business, a startup from its backyard in Stockholm (and even backed by Spotify itself) has raised a large growth round to take a leading place in providing music streaming services to businesses.
Soundtrack Your Brand, started by an ex-Spotify executive and one of the co-founders of Beats (now part of Apple), has raised $22 million — funding that it will be using to expand its business globally and continue building out its tech to select and play licensed music in stores and other retail locations. Think Muzak but much less kitschy and anodyne — unless kitsch and lounge music is what the retailer happens to be going for, of course.
The company has already seen some significant growth. It counts McDonald’s, TAG Heuer and Toni & Guy among its multinational customers, along with “thousands” of smaller businesses (which include national operations for huge chains, such as Starbucks in…