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TAMPA — Symphonic Distribution Inc., a digital music distribution provider to partners such as Apple Music, Spotify, Amazon, Pandora and more, secured a $4 million investment led by Ballast Point Ventures, a Tampa-based venture capital and growth equity firm.
According to a press release, Symphonic, also based in Tampa, will use the investment to add to its sales force, bolster its marketing efforts and enhance its product capabilities.
"We are excited by the possibilities that BPV's minority investment provides," states Symphonic founder and CEO Jorge Brea in the release. "The Symphonic Distribution team has worked diligently to provide innovative products and superior customer service for our musician and label clients. With this funding, we will be able to attract more top talent and accelerate the development of the Symphonic Distribution platform.”
Brea adds that Symphonic chose to work with BPV because the firm shares his company's long-term vision. Symphonic, according to the release, provides new and established record labels and individual musicians with cost-effective digital music distribution tools, enabling content creators to quickly and cost-effectively distribute their music to the major music consumption platforms. The company's clientele includes thousands of labels and artists worldwide.
"Symphonic Distribution's industry-leading position in digital music distribution is a testament to the vision and platform developed by Jorge Brea and his team over many years," states Ballast Point Ventures' Robert Faber, who will join the Symphonic Distribution board of directors, in the release.
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