Music Industry Specialist Gets $6.5m for Expansion

Boulder, Colorado-based digital media analytics firm Next Big Sound (NBS) has closed a $6.5m Series A financing round, which it will use to open an office in New York and to expand its tech team.

NBS pulls data from web sites to track the number of plays, views, fans, comments, mentions, and other key metrics for musical artists, measuring the growth and popularity of bands across major web properties and selling the info to band managers and other industry professionals.

In 2009, the company raised an undisclosed amount of seed funding from venture capital firm Foundry Group, which has led this latest investment with support from IA Ventures.

NBS co-founder and CEO Alex White comments: 'We are on a mission to transform the music industry through data by making the billions of public and private data points useful. If you are a music industry professional not using data to inform your decisions, you are going to be left behind.'

Web site: www.thenextbigsound.com .