Somerville, Mass. – The Echo Nest, a developer of music
discovery and recommendation technologies, announced on Tuesday that it has
raised $7 million in new financing, led by Matrix Partners.
Commonwealth Capital Ventures also participated in the round, proceeds from
which will go to expand its team and further develop the company’s "music
Created by two MIT Media Lab PhDs, Somerville,
Mass.-based Echo Nest’s suite of APIs and developer tools are used in over 80
music discovery applications, interactive music games, remix apps and
analytics-driven music marketing applications.