Barcelona-headquartered music technology services company SonoSuite has announced a new investment from Colombia-based Dinastia INC, a music services company in the Latin and urban music markets.
The investment will see Dinastia take a minority stake in SonoSuite. The value of the deal was not disclosed.
Dinastia, which describes itself as a “digital aggregator of musical content,” provides solutions to indie artists, producers, and labels to simplify the process of managing, licensing, and tracking music rights on digital platforms.
The company is already a client of SonoSuite, making its investment a strategic fit, SonoSuite said in a statement on Tuesday (October 22).
“We are glad to welcome this strategic investor who provides valuable industry insights, as part of our cap table,” SonoSuite CEO Sebastián Mañana said.
“At the same time, the founders retain a substantial majority of shares and hold control over the company.”
“We are glad to welcome this strategic investor who provides valuable industry insights, as part of our cap table.”
Sebastián Mañana, SonoSuite
SonoSuite is a SaaS (software as a service) company that operates a white-label platform that allows indie record labels and music distributors to deliver their catalogs, and manage royalty payouts and reports. Its partners include SoundExchange, Merlin, PPL, IFPI and Worldwide Independent Network.
In 2023, SonoSuite joined the “Friends of IMPALA” initiative, designed to facilitate collaboration between companies and the independent music sector.
SonoSuite received some bad press earlier this year when it was alleged that the company was working with 3tone, a distributor that had been cut off by its tech provider after allegedly failing to pay artists and staff.
SonoSuite had reportedly provided services to 3tone from 2020 to 2021, but a news report in early 2024 suggested that SonoSuite had contacted various DSPs to inquire about 3tone’s reinstatement.
SonoSuite is expanding its business at a time when independent artists are seeing growing market share. The company is competing to provide services within an increasingly crowded field of digital indie distributors – including prominent names such as TuneCore and Distrokid – and continued interest from major music companies.
In a sign of that interest, Universal Music Group completed its 100% acquisition of European indie music group [PIAS] earlier this month, which includes [Integral], a physical and digital distribution services company that will now merge with UMG’s Virgin Music Group.Music Business Worldwide