Musixmatch announces a strategic investment from TPG.
Lyrics-providing platform Musixmatch has secured a significant investment from TPG Growth, “the middle market and growth equity platform” of the asset management firm TPG. The strategic partnership advances Musixmatch’s goal of providing lyrical content, enriched metadata, tools, and services while expanding its offerings internationally.
Founded in Bologna, Italy, in 2010, Musixmatch is a leader in lyrics availability. The company boasts of assembling the world’s most extensive lyrics catalog. Musixmatch has provided metadata to many digital service providers (DSPs), including Amazon Music, Apple Music, Google, Instagram, Spotify, and Tidal.
Musixmatch has built relationships with over 100,000 music publishers worldwide, including BMG, Kobalt, Sony Music Publishing, Universal Music Publishing, and Warner Chappell.
A leading global asset management firm founded in San Francisco in 1992, TPG has $120 billion of assets under investment and management across teams in 12 offices globally. TPG invests across five “multi-product platforms,” including Capital, Growth, Impact, Real Estate, and Market Solutions. The company has significant experience investing in music and streaming.
“Over the past decade, our team has built Musixmatch from the ground up with a vision to better represent songwriters and artists, allowing their lyrics to reach a global community of music lovers,” says Musixmatch founder and CEO Max Ciociola.
“The team at TPG brings more than just deep experience investing behind world-class music and streaming companies — they also share our ethos and the entrepreneurial spirit that has been a hallmark of our success to date and will continue to drive our next phase of growth. We are thrilled to welcome TPG as a partner and look forward to what we can bring to our artists and their fans.”
“Digital music streaming has become the default form of music consumption and continues to experience robust growth,” says Jacqui Hawwa, a Business Unit Partner at TPG Growth. “We have long admired the impressive platform that Max and his team have built and believe Musixmatch’s unparalleled metadata catalog, proprietary lyrics sourcing engine, and extensive relationships with streaming platforms and IP owners will continue to position the company for success in this large and growing market.”
Other firms backing Musixmatch include Micheli Associati, P101 Venture, and United Venture. The company currently employs more than 120 individuals across Italy and Europe.