Willkie represented Insight in the transaction.
Insight Partners entered into an agreement to acquire a substantial stake in DistroKid, a fast-growing digital music distribution service. The investment values the company at $1.3 billion. More than 2 million artists at every level use the tools and services that DistroKid provides. The company estimates that it distributes more than a third of all new music globally, paying artists 100% of their royalties. The investment from Insight Partners is expected to fuel the continued development of DistroKid's industry-leading suite of tools for musicians.
Insight Partners is a leading global private equity and venture capital firm investing in high-growth technology and software companies. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments.
Founded in 2013, DistroKid is a leading distributor of independent music, and distributes 30-40% of all new music in the world. It has built its business on providing musicians, managers and record labels with online tools and services that are innovative, easy-to-use, and affordable. DistroKid's expanding array of services include music distribution, monetization, metadata customization, storage, and promotion. DistroKid's staff, coupled with a largely automated backend, has enabled DistroKid to process more than 25 million songs.
The Willkie team was led by partners Morgan Elwyn and Nathan Sawyer and included associate Timothy Sullivan.