Songclip

Founded in 2008 and based in New York, US, Audiobyte, Inc, formerly known as Rednote LLC, runs the business as SongClip is the creator of a patented and proprietary technology platform, database, and search engine of legally compliant Songbytes - byte-sized music clips. The application programming interface (API) of the firm includes premium music content for social and messaging, licensed premium music from Universal Music Group (UMG), Warner Music Group (WMG), Sony Music Entertainment, and others, music paired with graphics interchange format (GIFs), adds premium content to text and social, increases time on product and engagement, seamless integration into keyboard apps and social platforms. The company operates in partnership with the major labels, including Universal, Warner, Sony, and Believe all the major music publishers, more than 6,500 independent publishers, and performance rights organizations. In March 2021, the company raised USD 11 million in funding led by Gregg Smith of Evolution VC Partners including The Kraft Group, Gaingels, and Forefront Venture Partners.

The company delivers fully compliant music to enhance the creation, communication, and expression of end-users. Audiobyte offers white-label music solutions, complement core feature sets for app companies to differentiate their platform, increase engagement, and drive a unique end-user experience. The solution provides valuable data for partners to refine their product and business strategies for record growth. The firm generates revenue through its monthly subscription packages that consist of General Admission, starting from USD 5,000, Floor, starting from USD 20,000, and VIP, starting from USD 80,000.

The company plans to use the March 2021 funding to further develop its product offerings and search engine, data analytics, and deployment of the API, and recruit additional talent to its current team of music, mobile, and product experts.