MOG Raises $9.5 Million In New Round Of Funding

Music streaming service MOG, which is backed by Universal Music Group and Sony Music has announced a new $9.5 million round of funding.

MOG launched last December with an emphasis on a music subscription business. The company which had previously raised $10 million charges $5 per month and offers 256kbps music streams.

MOG executives have stated that the new funding will be largely used to expand their European business, to create new mobile apps and to reach out to other companies to build new relationships.

If you want to try MOG, they have also increased their trial from a single hour to three days.

The funding round was led by Menlo Ventures, a previous investor in the company, and joined by Balderton Capital. [Mashable]