Apple acquires music analytics Semetric. The UK based startup Semetric was founded in 2008 by Gregory Mead, Marie-Alicia Chang and Matthew Jeffrey.
Semetric has developed a product called Musicmetric Software. The product was launched in 2008 offers detailed analysis on music. The analysis will be on music artists extracting data from various sources like social, video and audio sharing sites, blogs and other sources.
Musicmetric Software claims that they have tracked more than 800,000 international artists. On the other hand Semetric is not limiting their analytics on music alone; the company is expanding its product base on films, games and TV shows however focused on music.
Meanwhile Apple has hired a team from UK mapping startup Pin Drop. With the acquisition of Semetric will further boost the product offering of Apple. Musicmetric is the correct fit for Apple since it offers iTunes and Beats Music.
Semetric acquisition will give advantage to Apple Beats battling against Spotify. Further the acquisition helps Apple to improve Beat’s song recommendations which in turn provides stronger connections with fans.
Semetric has initiated necessary changes in their documents changing its registered address as Apple Europe Ltd and appointed a former Vice President of Apple Operations International Gene Daniel Levoff, as director. The acquisition is termed not less than $ 100 million.
Semetric has received venture funding in Jan 2013 for $ 4.7 million by Imperial Innovations and Pentech Ventures. After funding Jon Edington joined the board of Semetric.
Imperial Innovations is a London based venture capital has funded 34 startup companies. The venture capital company invests from the stage of seed funding, early stage venture, later stage venture and private equity investments. The main investments that Imperial Innovations spans on 4 key areas Healthcare, Engineering, Energy and Environment, Software and IT.
Pentech Ventures invests in technology companies in social media, internet, mobile, enterprise software, embedded and telecom software. The company has 42 investments in 20 companies. Pentech Ventures invests in startups thru Pentech Fund 1 and Pentech Fund 2.