Following a vote from its original investors, SoundCloud has successfully wrapped up the largest financing round in the history of the company. Per their original statement weeks ago, SoundCloud is officially here to stay thanks to two hefty investments from The Raine Group & Temasek.

Amidst such a quick turn-around, CEO Alexander Ljung will be stepping down from his position. Former Vimeo associate Kerry Trainor will fill the role, along with Mike Weissman who will start acting as the platform’s COO. Ljung will still remain with SoundCloud as its’ chairman, allowing him to focus on building a “greater team for the decades to come.”

Read the full statement from Alex Ljung below.