The Echo Nest Announces $17 Million Financing and Welcomes Jeff Crowe

July 12, 2012

Funding Internal Announcement

We’re pleased to announce a new round of funding led by Norwest Venture Partners, with participation of our excellent existing investors Michael Brown, Commonwealth Capital Ventures, Fringe Partners, Matrix Partners and Jim Pallotta.

We also want to welcome Jeff Crowe from Norwest to our Board of Directors. Jeff brings a wealth of experience helping data-driven companies build great products and big businesses. Jeff’s also from originally from West Roxbury, so he’s a Boston sports fan… which helps.

With this latest round of funding, we’re planning to keep making it happen as the most important “big data” company in music. In addition to growing our sales and marketing with a focus outside of the U.S., we’ll be using the financing to help music apps better understand you. Expect a whole lot of new capabilities released around our Taste Profile data service over the next few months. We got started today with the new release of Taste Profile Similarity and gave the world a sneak peak of Brian’s research around music taste and affinity prediction.

For more information on the financing, check out the press release.