Berlin based web audio start-up SoundCloud has raised $50 million in new funding from investors led by Kleiner Perkins Caufield & Byers, according to GigaOm. GGV Capital also participated, according to a press release which states that the investment will allow SoundCloud to continue to expand more rapidly, but the company is not revealing how much money it received from investors.
Previous investors in the company include Union Square Ventures, Index Ventures and Doughty Hanson Technology Ventures.
Mary Meeker, a partner at Kleiner Perkins Caufield & Byers, will take a board observer seat at the company, Gigaom reports. Butcher reports the company is said to have pre-money valuation of $200 million.
Since its inception in 2007 by Alex Ljung and Eric Wahlforss, the web audio platform has signed up more than 9 million users. It began as a way of collaboration between musicians and deejays, and more recently launched multiple mobile apps- a move that reportedly added about a million new people to SoundClouds platform.