MusicBank nabs $20.1 mil for launch

Cyberbiz Brief

San Francisco-based MusicBank, which provides technology to securely stream music files online, has generated $20.1 million in funding from Atlas Venture, Bertelsmann Ventures and Bonaventure Investments. Funds will be used to launch and promote the site in the fall. Company recently inked a licensing agreement to provide consumers access to BMG Entertainment’s music catalog.

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