UK digital media seller 7digital has taken £4.25 million ($8.5 million) in a round led by Sutton Place Managers that included original investor Balderton Capital (formerly Benchmark Europe).
7digital offers downloadable music, video and movies to customers in the United Kingdom, Ireland and Germany. The company also provides branded digital solutions for clients such as ITV & Channel Five, Pringles, Miller, Last.FM & Bebo.
7digitial currently has 1.1 million customers with access to a library of over 3.5 million music and video downloads available from 99p each. The company starting offering DRM free downloads in December and has since seen a 188% increase in sales.
Under the deal Patrick Maxwell from Sutton Place Managers (investors in media properties such as Getty Images and Cricinfo) will join the 7digital board.