Imperial adds lather to £3m software round
Imperial Innovations, which has a burgeoning investment portfolio in the Cambridge technology cluster, has injected £1.5 million into Semetric, the firm behind global music analytics specialist, Musicmetric.
The cash forms part of a £3m funding round which also includes existing investor Pentech Ventures.
Semetric’s software platform aggregates and analyses data from thousands of online sources. Musicmetric, the first of Semetric’s products to be launched, has risen to prominence through its work supporting insight and analysis across the global music industry. Customers already include EMI and MTV.
Musicmetric enables record labels and music marketers to analyse, benchmark and compare artist performance, aggregating online data alongside conventional sales information.
Using information derived from social media platforms, music streaming and video sites, as well as BitTorrent consumption, Musicmetric produces a real-time chart ranking artist popularity.
Real-time data analysis allows the impact of marketing activities to be tracked against consumption, discussion or mentions of artists’ music. Through a customisable interface, popular trends amongst consumers can be identified, enabling record labels to develop new talent in a particular area or allowing consumer brands to select an appropriate artist to support a marketing campaign.
Semetric’s platform can be applied to other media verticals including television, film and video games. The current market for analytics in these areas and music totals around $3 billion annually. Semetric was co-founded in 2008 by Imperial College London student Gregory Mead, who is CEO, Marie-Alicia Chang & Matthew Jeffrey. Its executive chairman is Jeremy Silver, formerly global VP for New Media at EMI and director of media affairs at Virgin Records; he was also CEO of Sibelius Software, a Cambridge company that produces music composition software.
Susan Searle, CEO at Imperial Innovations, which now has a Cambridge office, said: “Semetric’s platform offers customers tangible insight into consumer behaviour, enabling brands and music companies to make better marketing and promotion decisions. Semetric is poised to make an impact across a range of media verticals.”
• PHOTOGRAPH SHOWS: Susan Searle