Utopia Music is a company that aims to build a comprehensive music data-ingesting technology that major music companies will definitely adopt the platform for their data processing. Utopia is going to leverage big data to enhance the music industry with increased revenues, accelerated payment cycles, improved insights, and reduced costs. Thus, creating an ecosystem where music and tech work together.
The potential investors’ list has not been disclosed yet. However, at least one investment agent is offering would-be bakers. Moreover, Utopia is seeking an institutional investor to lead the pre-Series C round. During five and a half years, Utopia has already raised more than $100 million. In plans, the funding raised will be used for the acquisition of music companies in a year.
Utopia, Switzerland, was founded by Mattias Hjelmstedt in 2016. As of now, the company has 650 people on its employee team. During the past 12 months, Utopia has acquired 13 music companies. Utopia’s slogan is “fair pay for every play”, while it bills itself as “a Swiss Music fintech company leveling up the music industry through clear, transparent, and reliable data-based solutions”. This claim is about the company’s proprietary music platform, Utopia Open Platform. This platform makes a log whenever tracks are played by different broadcasters worldwide, as well as identifying plays on streaming platforms and ingesting track metadata.