Groover, the groundbreaking music promotion platform, secures an $8 million Series A funding round, led by investors including OneRagtime, Trind, Techmind, and MozzaAngels, along with support from historical backers like Partech, Bpifrance's Tech & Touch fund, Verve Ventures, and Frenchfounders.
This substantial funding will boost Groover's position as an all-in-one platform by integrating new services such as promotion, marketing, coaching, and career development support. Additionally, it will strengthen the company's strategic presence in North American, European, and Latin American markets.
Romain Palmieri, Groover's co-founder and CEO, emphasizes the significance of this funding, stating, "With these new investments, Groover is poised to solidify its position as a global leader in music promotion." The goal is to provide independent artists with innovative features and services while accelerating international expansion in key markets.
Despite the ease of online music production and distribution, independent artists face challenges in gaining visibility due to oversaturation. Groover, launched in 2019 by musicians and music journalists, aims to address this by connecting artists directly with industry professionals. Since its inception, Groover has attracted nearly 350,000 independent artists worldwide, generating over 4 million personalized reviews.
The platform now introduces two additional services: Groover Club and Groover Obsessions. Groover Club offers coaching, masterclasses, and personalized follow-up sessions to artists, while Groover Obsessions provides career development opportunities to promising artists, enhancing their visibility and profitability.
With operations across several countries, Groover generates 80% of its revenue internationally. The funding will fuel further international expansion efforts, with a focus on Europe, North America, and Latin America. The startup is intensifying global recruitment efforts to strengthen its team, aiming to capitalize on its successful New York office launch in early 2022, which propelled the US to become its top market within six months.
Stéphanie Hospital, CEO, and founder of OneRagtime, expresses confidence in Groover's vision, stating, "Groover's ability to connect artists with media and industry professionals is unique." Investors anticipate Groover's continued success in reshaping the music promotion landscape.
