Shazam announces $32m funding round from Silicon Valley big-hitters

On the verge of signing up its 150 millionth user, UK-headquartered firm continues its push into TV.

Shazam has announced a new round of VC funding: $32 million from Kleiner Perkins Caufield & Byers, Institutional Venture Partners and DN Capital.

The company says it will use the cash injection to continue developing its mobile discovery apps, including pushing into the TV and advertising market, as well as its traditional focus on music.

Shazam has been working with a number of US broadcasters and show creators in the last year, integrating its technology into their shows so that viewers can tag them to view extra content such as behind-the-scenes footage.

"Music is still at the core of our DNA and will always remain fundamental to who we are.  Our expansion into television is a natural evolution of our technology and we are excited to have delivered the same powerful discovery experience for broadcasting and advertising that people have always loved with music," says CEO Andrew Fisher.

Shazam says it will soon sign up its 150 millionth user, and is currently adding new ones at a rate of more than one million a week. Meanwhile, Shazam's apps are currently generating four million tags a day - the majority likely for music.