Soundwave focused on developing innovative technology and products to aid music discovery.

The Soundwave music social networking app helped users to discover new music, share songs, and connect with like-minded music fans. The app was downloaded more than 1.5 million times in 190 countries in 14 languages since its launch. Soundwave was acquired by Spotify to enhance the overall consumer experience on the Spotify service.

ACT was an early stage investor in Soundwave, with NDRC, Enterprise Ireland and private investors.