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Audiodraft, The Crowdsourcing Platform For Sound And Music, Raises $400K From 500 Startups & Promus Ventures

Audiodraft, a platform where brands or anybody else can commissions custom music or sounds, just closed $400,000 in a funding round led by 500 Startups and Promus Ventures. The best analogy for what the startup does is 99Designs for sound. Founded three years ago, the company has grown a community of about 20,000 sound designers and music composers who are available to create music or sounds for different advertising agencies and clients on commission. There’s also a library on-hand tracks so that customers can drop by and buy licenses for music for anywhere from $400 to $2,000. Then there’s also a way to host contests. (Here’s an example one from “Four Hour Work Week” author Tim Ferriss, who was looking for music to pair with a teaser video for the “Four Hour Chef.”) Audiodraft charges 10 percent of the prize money and a $99 listing fee. With the round, the company is also bringing on a few advisors including Trulia co-founder Sami Inkinen and TaskRabbit vice president of engineering Yee Lee. They’ll use the funding to make a few additional hires in San Francisco and Helsinki and build out a new Agency Studios service. That product is really built for brand and advertising agencies globally […]

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