Insight Partners has supplied an undisclosed amount for the Spotify-backed independent music distributor at a $1.3bn valuation.

DistroKid, the US-based independent music distributor backed by music streaming platform developer Spotify, has received an undisclosed amount of funding from growth equity firm Insight Partners, valuing the company at $1.3bn.

Founded in 2013, DistroKid runs a digital uploading service which allows independent musicians to put their music on streaming platforms like Spotify, YouTube, Apple Music, Pandora, TikTok, Amazon and Tidal while letting them keep all their earnings.

The company boasts more than 2 million artists on its platform and…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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