Santa Monica-based business-to-business music licensing marketplace Songtradr is diving deeper into livestreaming with its acquisition of Pretzel, a Washington-based startup.

Pretzel focuses on licensing music to livestreamers on Twitch, Youtube and other platforms where gamers and influencers have flocked during the pandemic, often setting their live videos to music. According to Twitch representative Samantha Faught, the total number of streamers making money on its platform doubled in 2020 from a previous all-time high in 2019.

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Songtradr has grown by making it easier for artists to get their music in ads, television series and movies. Now, it wants to take advantage of the explosion of video streaming services hungry for more music.

The music rights and licensing marketplace platform announced a $30 million Series C raise on Monday, giving the company a $165 million valuation. The raise was led by the St. Baker Australian family office, which is an amalgam of other prominent Australian family offices and several existing investors.

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