Audiodraft Raises $400,000 To Expand Custom Music Marketplace

Audiodraft, a platform for brands, video makers and others to commission custom music has closed it's first funding round of $400,000. The investment was led by 500 Startups and Promus Ventures.

Brands and others who want custom music or sounds list a contest on Audiodraft. (Ths one for Tim Ferriss of "4 Hour" fame had a $200 prize) The company charges 10% of the prize plus a $99 listing fee.

With the new funding, Audiodraft is adding advisers including Trulia co-founder Sami Inkinen and TaskRabbit VP Yee Lee. Also expect new hires in San Francisco and the company's home base of Helsinki.