In September it was reported that Shazam lost £5.3 million ($8.65 million) on £16.9 million ($27.6 million) in revenue in the second half of 2013. Apparently Shazam just needed cash injections.
In March 2014 the company raised $20 million.
Now, Shazam has raised another $30 million, with at least some of the money coming from new investors. They say this latest funding brings their valuation up to over $1 billion.
Shazam says they will use the money to continue “evolution and rapid growth”.
The company also reports that they have over 100 million monthly active users and have been downloaded over 500 million times. Shazam is integrated into iOS 8, which has dramatically increased the number of users.
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u