7digital raises $8.5M for digital media sales
7digital is a London-based digital media store which offers music and video downloads to British customers (or anyone else who wants to pay for downloads in pence and pounds).
The company says it has about 1.1 million customers, and over three million downloads available. It also partners with other sites, including Last.fm and Bebo.
The funding round was for £4.25 million, or about $8.45 million at current exchange rates. Sutton Place Managers led the round, with participation from Balderton Capital.
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About the Author, Chris Morrison
Chris Morrison writes about cleantech and environmental issues for VentureBeat, with occasional forays into gaming and semantic technology. He got his start writing about tech for Business 2.0 magazine, but quickly realized new media was the ticket when that institution closed its doors in 2007. Chris has also covered public equities and regulatory issues. He originally hails from southern Virginia, graduated from Evergreen State College in Washington, and now lives in San Francisco.