Music discovery app company Shazam today announced it has raised US$32 million in funding as it approaches 150 million users. The London-headquartered firm has been backed with new cash from Kleiner Perkins Caufield & Byers and Institutional Venture Partners, with existing investor DN Capital also participating. Shazam said it plans to use the funds “to support continued [company] growth and the development of its real-time discovery and sharing app which creates an interactive mobile commerce platform for brands as it expands into television with Shazam for TV.”

Shazam claims it is approaching 150 million users and is on course to achieve 250 million users within two years. It says that the past 12 months have seen a 100 percent increase in the number of people downloading its mobile app each week (recording four million tags a day). The app is available on iOS, Android, Java, BlackBerry, Windows and Symbian platforms. 

Although the company is best known for its music discovery app, the last year has seen the firm work with networks such as NBCUniversal and MTV to incorporate Shazam for TV into their shows. “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,” said Andrew Fisher, CEO of Shazam. “Our size and growth is unparalleled in the industry and gives our network and brand partners reach not available with anyone else.” 

Fisher added that the firm is likely to grow via acquisition, although no specific details were revealed.