Online music startup Amie Street has raised $3.9 million in Series B funding led by Deep Fork Capital, which included the conversion of a bridge note issued previously by the investment firm. Three undisclosed investors also participated in the round. Amie Street raised an undisclosed amount of series A funding in 2007 from Amazon.
Amie Street’s co-founder and CEO Joshua Boltuch tells us that the funds will be used towards new product development but remained mum about the nature of what the startup will be developing. Amie Street, which allows allows artists to upload their music for promotion and sale, recently announced several music licensing agreements, including a deal with Sony Music. The startup has also seen success with independent labels. To date, the site has over 1.5 million songs available for download.
The startup is built on a variable pricing model, where songs start off free and move up in price (up to 98 cents) as more people buy them. Last fall, Amie Street acquired music search engine and online jukebox Songza for part stock, part cash, with the total sum in the high six figures to low seven figures.