Lyrics provider musiXmatch has closed a $3.7 million series of first-round funding led by Francesco Micheli Associates, the same investor that put €400,000 (about $572,000) of seed funding into musiXmatch last year. The musiXmatch service provides lyrics through an API to any kind of music app or service.
The money will be used to improve every aspect of the company's lyric API, musiXmatch said in the blog post that announced the funding. In addition, the funding will help the company improve its platform, expand distribution, offer more localized content in the U.S. and Asia, hire more engineers and open a U.S. office.
The Bologna, Italy-based startup, which claims to be the first fully licensed provider of lyrics on a global basis, provides a lyrics database of 5.7 million compositions that is used by streaming music services, mobile devices, video services and other entertainment services. It has partnerships with BMG, Kobalt, Universal Music Publishing Group, Sony ATV Music, Harry Fox Agency, and others. The service is offered in 18 different languages.
Often overshadowed by services that offer recorded music, lyrics are a big part of online music services and a frequently searched topic at search engines. But musiXmatch believes it's currently too inconvenient to search for lyrics. "When you look at the fact that 10% of Google's searches are music related and 70% of music queries are lyrics related, you begin to understand the extent of the problem," musiXmatch wrote at in a blog post.
Other lyric services have already made good inroads into providing lyrics at the point of search or discovery. Sony-owned Gracenote has a database of licensed song lyrics and provides lyric services to Google, Yahoo, AOL, MTV and Metro Lyrics. LyricFind also provides song lyrics to the likes of Microsoft Bing, Rhapsody, Shazam, Slacker, Virgin Media UK and Kazaa.