Instrumental‘s new round was led by London based Blenheim Chalcot and included music industry veteran Bill Roedy, ex-CEO of MTV International.
The funding will be used to expand TalentAI, the startup’s machine learning powered A&R tool.
TalentAI monitors billions of data points each day from sources such as Spotify and social networks to deliver trending intelligence on emerging artists to the A&R and talent scouting teams at labels, publishers, promoters and marketers.
Instrumental says it has fresh deals with all three majors label groups, as well as indies in the UK, US and internationally. But it appears likely the WMG will move its A&R monitoring to its newly acquired Sodatone music data platform.
Much like TalentAI, WMG’s Sodatone combines streaming, social and touring data with the power of machine learning and then identifies unsigned talent by tracking early predictors of success, such as the loyalty and engagement of a growing fan-base, and the potential virality of a track or demo.