The Echo Nest, a music intelligence platform, has closed a $17.3 million financing round led by Norwest Venture Partners.
Prior investors Matrix Partners, Commonwealth Capital Ventures, Fringe Partners, Jim Pallotta and board member Michael Brown also participated in this round.
The Echo Nest, based in Somerville, plans to use the funds to support continued sales growth, international expansion, and new product development. The company also announced major additions to its Fanalytics listener data platform.
The Echo Nest’s tools enable media companies and independent developers to build intelligence about music content and music fans into applications to make them more engaging. In addition to a growing community of over 15,000 application developers, The Echo Nest has established a customer list that includes Clear Channel’s iHeartRadio, eMusic, MOG, Spotify, Nokia, the BBC, and VEVO.
This latest round of funding will help The Echo Nest focus on international sales and marketing, the company said. The financing will also support continued development of ‘‘Fanalytics,” which the company describes as “data-driven solutions to help leading media companies better understand music fans.”