Independent music publisher Sentric secures funding to tune of £3m
The Liverpool headquartered music company which has a share in Drake's One Dance song has attracted backing from BGF
Sentric Music, an independent music publishing service that works with more than 90,000 songwriters, has closed a £3m funding round led by the Business Growth Fund (BGF).
Based in Liverpool and launched in 2006, Sentric provides music publishing, licensing opportunities, and royalty collection services.
The company offers a 28 day publishing contract and claims its service helps songwriters gain access to lucrative licensing deals “while avoiding the inefficiencies of manual and complex royalty collection process”.
Employing 40 people across the UK, Germany, the Netherlands and the US, Sentric represents more than 100,000 songs including a share of Drake’s best selling single One Dance, while artists that have used Sentric’s platform include Bloc Party, Bastille and Catfish & The Bottlemen.
The publisher will use the £3m investment to support international expansion and will also help fund acquisitions.
Sentric CEO and founder, Chris Meehan, commented:
“With the support of our early investors and the songwriters we work with, Sentric has enjoyed exceptional growth during the past decade. We want to continue growing, developing and exploring new opportunities.
“Now is the right time to bring BGF on board. Their long-term investment and minority partnership means that we can continue to implement our plans without giving up control of the business.”