Groover Secures $8 Million Funding to Enhance Music Promotion for Independent Artists

In a significant development for the music industry, Groover, a leading music promotion platform, has announced a successful $8 million Series A funding round. This funding was led by a group of notable investors including OneRagtime, Trind, Techmind, and MozzaAngels. The round also received support from existing investors such as Partech, Bpifrance's Tech & Touch fund, Verve Ventures, and Frenchfounders.

Boosting Artist Career Paths

Groover's platform, since its inception by founders Dorian Perron, Rafael Cohen, and Romain Palmieri in 2019, has played a pivotal role in the careers of independent artists. By facilitating direct connections with over 3000 music professionals and curators, the platform has provided independent artists with essential feedback and opportunities. With nearly 350,000 independent artists using Groover from across 180 countries, it has amassed a staggering number of over 4 million personalized reviews.

The platform is now set to incorporate additional services with the recent funds. The Groover Club will offer membership services including coaching and masterclasses, while the Groover Obsessions program aims to scale the careers of the most promising artists using the platform.

Targeting Global Expansion

Already generating 80% of its revenue internationally, Groover has established a robust presence across several countries. This fresh capital injection will accelerate the platform's expansion in strategic regions like North America, Europe, and Latin America. The company has already experienced rapid growth, particularly in the US market, where its newly established New York office has made a significant impact.

Committed to scaling its dynamic workforce, Groover is keen on recruiting the finest talents in tech, product, and business development. The aim is to further the platform's innovative services, addressing the challenges faced by musicians in a digitally saturated market.

Investors See Groover's Potential

Investors are enthusiastic about Groover's mission. Stéphanie Hospital, CEO and founder of OneRagtime, highlighted Groover's unique capabilities in connecting artists with the industry and the platform's potential as the all-in-one solution for independent artists.

The substantial rise in online music production and distribution has led to a crowded marketplace. Groover's expanded offerings are set to empower artists, helping them stand out and succeed in the competitive music industry.

funding, music, platform