Music and TV discovery service Shazam has closed a new $40 million round of funding, the company announced today.
Shazam, which now has 325 million users, initially began as a service that allowed you to recognize and determine what you were listening to using the audio. Over the last year the company has made great strides using that same audio recognition technology to identify what you’re watching on television or commercials. The small screen is where Shazam plans on its new capital.
Shazam is attempting to grab a piece of the TV advertising industry pie and currently has over 250 ad campaigns in 28 countries, as VentureBeat previously reported.
Founded in 2002, the London-based startup has raised a total of $72 million in funding to date from Kleiner Perkins Caufield Byers, Institutional Venture Partners, Acacia Capital, and DN Capital. The latest round of funding came from Carlos Slim through America Movil.