7digital Secures £4.25m Funding

The music and download company behind Bebo and Last.fm’s music services, 7digital, has secured funding of £4.25 million.

The digital media delivery company, based in the UK, has received backing from investors Sutton Place Managers and Balderton Capital.

It is understood that 7digital will spend the money on expanding beyond the UK, possibly into the US and European locations.

7digital, as well as providing websites with download stores, has also become a media owner offering two websites aimed at consumers.

7digital.com is a website combining a download store with a digital media community, while Indiestore.com gives unsigned artists the chance to get their music heard.

7digital: www.7digital.com/