Skysoft Closes B-Round Financing with $14M

Skysoft Inc., a company which focuses on developing digital music applications for the Chinese-speaking markets, announced that it has closed its Series-B round of financing with $14M from investors include Adobe Systems, China Development Industrial Bank, Dwango, Orix Capital, and Transcosmos. The funding comes as investors bet on the future growth of the digital music market in the greater China region.

Skysoft was much credited for its success in KKBOX, a digital music subscription service it launched in Taiwan back in 2005 which quickly become the most popular music site in Taiwan. KKBOX currently has over 3 million registered users and over 200,000 paying subscribers, which makes it the largest legitimate digital music service in the Chinese-speaking market.

Skysoft plans to use the funding to develop new applications of digital music for the mainland China market.