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Business News Deals Labels & Publishers
Sentric receives £3 million investment for international expansion
By Andy Malt | Published on Tuesday 21 March 2017
Music publishing firm Sentric Music has raised £3 million of new investment from private equity firm BGF to fund its international expansion plans, as well as further development of the company’s products and technology.
“With the support of our early investors and the songwriters we work with, Sentric has enjoyed exceptional growth during the past decade”, says the company’s CEO Chris Meehan. “We want to continue growing, developing and exploring new opportunities. Now is the right time to bring BGF on board. Their long-term investment and minority partnership means that we can continue to implement our plans without giving up control of the business”.
BGF investor Neil Inskip adds: “Chris and his team have developed a smart and sophisticated technology-based solution for some complex and deeply engrained inefficiencies in the music industry. They have successfully expanded their international footprint and there is opportunity to continue doing so at pace”.
With a roster of more than 90,000 songwriters, Sentric celebrated its tenth anniversary last year. As well as direct investment in the company, BGF and Sentric have formed a strategic partnership to fund future acquisitions by the publisher.
