SoundCloud has raised an undisclosed amount in a fundraising round led by Kleiner Perkins Caufield & Byers. GGV Capital also participated in the round. According to SoundCloud, a leading social sound platform and a heavyweight in Berlin’s startup scene, the investment will allow the firm to continue to expand more rapidly.
“SoundCloud has seen exponential growth this year in terms of users and greatly evolved our product offerings,” said founder and CEO, Alexander Ljung. “With Kleiner Perkins’ impeccable track record for recognizing and investing in companies with a long-term view, and their understanding and support for the potential of sound, we couldn’t be more excited about working together.”
Mary Meeker, partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company. She already serves on the board of Square and is actively involved in KPCB’s investments in in Groupon, Legalzoom, Waze, 360buy.com, Spotify, Jawbone, One King’s Lane and Trendyol.
Prior to the latest round, SoundCloud’s funding had come from B-Round investors Union Square Ventures and Index Ventures, and A-Round investor Doughty Hanson Technology Ventures.