Radio stations, artists and record labels can tap the service to assess the commercial potential of new tracks. The tool analyses a comparative database of millions of consumer reviews.

Soundout is owned by artist services firm Slicethepie. CEO David Courtier-Dutton said funds raised would be used to help drive the uptake of Soundout’s research across the music industry, having seen “rapid adoption by radio”.

He said: “By testing everything and providing a standardised, crowdsourced research methodology to all players in the music ecosystem we offer everybody cost effective and objective guidance on new music.”