SoundCloud has acquired artificial intelligence startup Musiio for an undisclosed sum.
Musiio will amplify SoundCloud’s existing music intelligence capabilities and allow the streamer to further leverage it’s data to identify future music trends and talent, according to a statement.
Based in Singapore and founded in 2018 by CEO Hazel Savage and Swedish CTO Aron Pettersson, Musiio was this year named one of Fast Company’s most innovative companies of 2022.
Both founders will remain an integral part of operations. Savage joins as VP, music intelligence, and Pettersson as VP, AI and machine learning.
“SoundCloud is not only a legendary household name but also an artist forward business that I believe is the future of the new, holistic music industry,” Savage said. “I am incredibly proud that after four years of building Musiio we are now part of SoundCloud.”
SoundCloud confirmed that all Musiio employees will retain their positions.
Musiio’s technology focuses on B2B audio reference search (AI that can “listen” to music), automated tagging, and playlisting tools for the music industry.
By listening to music at scale, and identifying characteristics and patterns, its AI allows users to better predict success, which in turn, it said, can increase ‘hit-rate’ and revenue.
With its leading product suite and by deeper integration with SoundCloud, Musiio will become core to SoundCloud’s discovery experience and help to identify talent and trends ahead of anybody else.
“SoundCloud hosts more music from more creators than any platform on the planet. Acquiring Musiio accelerates our strategy to better understand how that music is moving in a proprietary way, which is critical to our success,” SoundCloud’s president, Eliah Seton, said.
“We are honoured to partner with Hazel and Aron and welcome the absolutely brilliant team of innovators at Musiio to the SoundCloud family.”
Musiio tags 20,000 tracks per day and serves more than 40 B2B clients.