Photo Credit: SonoSuite
SonoSuite announces a minority investment from Dinastía to drive strategic growth.
Barcelona-based music tech company SonoSuite announces the addition of a key strategic client as investor, Dinastía Inc, from Colombia. Dinastía says it has a strong industrial interest and a strategic fit with SonoSuite’s core activity; it’s already a ‘valued client’. The partnership is expected to enhance distribution opportunities for all parties and further reinforce their collaborative relationship.
Dinastía is firmly plotted in the urban music space, with an eye towards expanding its presence in the Latin American market and making them partners for SonoSuite. The funds raised from this investment will be used to drive growth initiatives, and Dinastía will hold a minority stake in SonoSuite.
“We are glad to welcome this strategic investor who provides valuable industry insights, as part of our cap table. At the same time, the founders retain a substantial majority of shares and hold control over the company,” said Sebastián Mañana, CEO of SonoSuite.
SonoSuite is a software as a service company that operates a white-label platform that enables indie record labels and music distributors to deliver their catalogs, and manage royalty payouts and reports. Its partners include SoundExchange, Merlin, PPL, IFPI, and Worldwide Independent Network (WIN).
The company joined the ‘Friends of Impala’ initiative in 2023, designed to facilitate collaboration between companies and the independent music sector.
SonoSuite is expanding its business at a key moment, as independent artists are seeing growing market share. The company is competing to provide services within an increasingly competitive field of digital indie distributors, including mainstays like Distrokid and Tunecore.
To that end, Universal Music Group completed its acquisition of European independent music group [PIAS] earlier this month. That acquisition includes [Integral], which will merge with UMG’s Virgin Music Group.