Cloud-based music service Rdio has landed funding from Mangrove Capital Partners. The news first appeared on the Twitter page of Mangrove’s Mark Tluszcz and has been confirmed by Billboard.biz. Terms of the deal were not disclosed.
The funding will be used to support the “aggressive expansion of the Rdio platform in 2011,” according to an emailed statement from the company’s publicist. Addition details are expected to be given next week.
Rdio, which Billboard named as 2010’s top music startup, launched in August 2010. Its “Rdio Unlimited” service includes support for web and mobile and costs $9.99 per month. “Rdio Web” is a web-only service that costs $4.99 per month. The service’s most unique feature is its social networking abilities that allows user to follow the listening habits and collections of their friends.
Mangrove invested in Skype, which was founded by Rdio founders Niklas Zennstrom and Janus Friis. The venture capital firm has also put money into free music platform Jamendo, fan-to-fan ticket exchange SeatWave, free call and messaging startup Nimbuzz and private sale shopping site Brands4Friends, which was acquired by eBay in December 2010.
In other news, Rdio announced on Thursday that its service is now available through Sonos home music systems. The Sonos support comes only with the $9.99-per-month “Rdio Unlimited” level of service.