Commercial music streaming service raises $ 4 million in funding

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Australia’s commercial music streaming service Qsic has raised $ 4 million in Series A funding to develop its technology platform that has a direct impact on buyer behaviors and experiences.

Founded by classmates Matt Elsley and Nick Larkins in 2012, Qsic is Australia’s market leader in commercial music streaming, with hundreds of brands and thousands of stores across the country using the platform on a daily basis.

The company already has more than 70 Australian customers, including 7-Eleven, McDonald’s, Mecca Cosmetica and Scanlan Theodore, and reaches over 26 million unique listeners each month.

In addition to music streaming, Qsic organizes the in-store experience in a measurable and straightforward way, including automatic volume adjustment based on actual traffic and personalized content feed, such as advertisements, as customers move through spaces. .

This is done through anonymous touchpoints, including in-store motion and sound decibel sensors, as well as point-of-sale data. As a result, Qsic’s partners are able to better understand their customers’ behaviors and make data-driven decisions at scale.

Qsic will use the increase to create new products in addition to its already established platform; create an even more transparent and hyper-connected complete store infrastructure network.

The company also plans to grow its local workforce from 21 to 42 this coming year, as well as its presence in the United States by four. Qsic recently hired its first Country Manager in the United States.

“We know there is a huge appetite on the part of suppliers and consumers for personalized experiences, especially since data shows that the physical act of visiting a brand is always at the heart of the experience. purchase and login, ”said the co-founder and product manager. Officer, Nick Larkins.

“By merging the physical retail environment with multiple data inputs and layering artificial intelligence and machine learning, we are helping brands create a more holistic experience that transcends online and bricks and mortar. . “

Qsic Co-Founder and CEO Matt Elsley said, “We are excited to be the technology behind the next chapter of physical retail store growth. As the in-store experience becomes data-driven and hyper-connected, smart platforms are becoming essential for testing, measuring and learning. Qsic is that action system for our customers.

“Carthona Capital’s support allows us to transform static environments into real dynamics. At a time when so many in the industry are feeling the pressures of COVID, it is a privilege to be able to help our partners rebuild and reconnect with their communities. “


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