Music discovery platform MyStrands has closed a Series B round of $25million led by Antonio Asensio, CEO of Grupo Zeta, Spain’s third largest media group, along with existing investors Debaeque and Sequal.
MyStrands delivers a product that although sharing similarities to Last.fm, also extends to the desktop with the inclusion of locally stored music in its recommendation equation.
CEO Francisco Martin said that the company was committed to remaining independent and that the funding will help the company continue in developing its product.
MyStrands has struggled against competitors such as Last.fm, iLike and Pandora. It’s a difficult market to crack that hasn’t been helped by a name change from MusicStrands along the way. Having said that, MyStrands is a decent offering; the platform hooks nicely into iTunes and recommends music as you’re playing songs in a seamless fashion. $25million isn’t a small figure, I’m sure the company will put it to good use.
Check out MyStrands’ profile.