October 22, 2008 07:00 ET

AudioMicro Closes Series A Financing

DFJ Frontier Invests in Micro-Stock Music-Licensing Marketplace

LOS ANGELES, CA--(Marketwire - October 22, 2008) - AudioMicro.com, a crowd-sourced marketplace for commercial music licensing, today announced that the company has closed a Series A round of venture capital financing led by DFJ Frontier. In connection with the financing, Scott Lenet, a managing director of DFJ Frontier, will join AudioMicro's board of directors. The funds will be used to enhance the online marketplace, to attract new content, and as working capital. Musicians and sound designers license and upload stock music, sound effects, audio cues, and production elements to AudioMicro. AudioMicro sells that content to clients seeking affordable music and sound effects for digital media, websites, short online films, motion pictures, feature films, short films, radio advertisements, PowerPoint presentations, live performances, remixes, and more, sharing the proceeds with the artists. Prices begin at $1 per minute of music or other audio, and monthly subscription packages are available.

"AudioMicro is revolutionizing the micro stock music and micro stock sound effects businesses by connecting artists with clients in a truly unique way," said Lenet. "Like micro-stock photography did, AudioMicro is fundamentally changing the economics of the industry, benefiting every participant."

"We are very pleased by our partnership with DFJ Frontier," said Ryan Born, chief executive officer, AudioMicro. "AudioMicro will continue to improve the music industry by providing a licensing marketplace that empowers musicians, publishers, and consumers. With its track record of building world-renowned companies, DFJ Frontier is an ideal partner to support our growth."

AudioMicro's industry-changing platform makes commercial music licensing accessible to everyone, allowing music for video production to be secured in an iTunes-style pricing structure. All content available from AudioMicro is pre-cleared for use in any creative project, eliminating the need for additional fees or licenses. The AudioMicro marketplace offers considerable ease-of-use benefits and substantial costs savings compared to traditional stock music licensing and serves as a launching platform for independent musicians seeking exposure through placement of their work in visual media, including films, television shows, advertisements, slideshows, video games, and online videos.

Series A Financing

AudioMicro's Series A venture capital round was led by DFJ Frontier. DFJ Frontier has offices in Sacramento and Southern California and invests in seed and early-stage technology on the West Coast. DFJ Frontier is part of the DFJ Network, the most active venture capital organization on the planet. With offices in more than 30 cities worldwide, the DFJ Network has more than $5 billion under management to fund extraordinary entrepreneurs.

About AudioMicro

AudioMicro offers advertisers, music supervisors, creative directors, webmasters, filmmakers, and "YouTubers" an affordable, high-quality solution for appropriately securing sync music for use in creative audio-visual projects. With content purchased from AudioMicro, a movie or webisode can be scored at a fraction of the cost of a traditional music library. AudioMicro offers the largest user-generated micro stock music library, with over 25,000 tracks from publishers, composers, independent bands, and sound designers worldwide. For more information, visit http://www.audiomicro.com/.