Stem secures $10m funding round

Distribution and payments platform Stem has collected $10m in a funding round led by Slow Ventures.

Aspect Ventures and Upfront Ventures also contributed to the raise, Crunchbase reported. The round brings the total raised by Stem since the launch in 2015 to $22m.

The startup enables clients to deposit music on its platform which can be distributed and monetise it through Apple Music, Spotify and Google Play Music.

Slow Ventures is a Californian VC firm founded by former Facebook execs.

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