Jingle Punks Music, a music publishing and technology company founded in August 2008 by Jared Gutstadt and Dan Demole, has completed an equity financing sponsored by Hammerline Capital, a New York based private equity investment company.
The financing also includes veterans from the music and technology industries.
Proceeds from the transaction will help fund new product development, strategic content partnerships, and continued international expansion. Specific terms of the transaction were not disclosed.
Jingle Punks is the fastest growing resource for indie, production, and high-quality custom music in the US and is currently providing music for use in television, film, advertising, and interactive to clients across the media and entertainment industries.
"Our last year of business was all about becoming a profitable and stable company," says Gutstadt. "With this new financing, we are in a place to do the heavy lifting for some long-term strategic partnerships we are currently exploring with some huge and game-changing brands. We plan to announce several of these deals within the next twelve months."
Jingle Punks has established a strategic advisory board that includes Steve Kofsky of New Remote Publishing and Spencer Hyman, strategy consultant and former chief operating officer of Last.FM.
Hyman, who is also an investor in Jingle Punks, says: "I got the same goose bumps about this company as I did when I first encountered Last.FM. To me, the Jingle Punks approach represents the future of music discovery and music licensing."
