Digital music service provider PassAlong Networks is in the process of closing a $30 million funding round this month, according to VentureWire. It has raised $40 million, so far, from venture capital and individual investors.

The Nashville-based firm powers digital music stores for a number of partners, most recently for the newly-launched (RED) Wire service. Users can earn credit good for discounted songs for each track they recommend (or "pass" along) that others buy.