[Funding alert] Paris-based Groover Secures $8 Million in Series A Round Funding

Tuesday 13, 2024 | By Team SR

Paris-based Groover secures $8 million in series A round funding to extend its offerings, solidify its place in the international music scene, and assist the professional growth of up-and-coming musicians.

Paris-based Groover secures $8 million in series A round funding to extend its offerings, solidify its place in the international music scene, and assist the professional growth of up-and-coming musicians.

Read also - Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

Since its founding in early 2018, Groover has amassed over $16 million in revenue. With this new investment, the firm plans to expand its market share in North America, Europe, and Latin America and integrate several new services, such as career development support and coaching.

Groover co-founder and CEO Romain Palmieri shared: “With these new investments, Groover is poised to write a new chapter, solidifying its position as a global reference in music promotion. Our goal is to provide independent artists with an all-in-one platform supported by innovative features and services and keep accelerating our international development in North America, Europe and Latin America.”

The current investors Partech, Bpifrance's Tech & Touch fund, Verve Ventures, and Frenchfounders participated in Groover's Series A round, which was headed by OneRagtime, Trind, Techmind, and MozzaAngels.

Read also - Stockholm-based MANTLE Raises over €2.8 Million in Funding

Let's take a step back and look at the reasons behind Groover's actions before getting into what Groover does. It's nearly hard to ignore the elephant(s) in the shape of Spotify, Apple Music, Amazon Music, YouTube Music, etc. while we're talking about music.

Groover's most recent funding round will see a significant emphasis on leveraging this source of income from overseas markets.

Read also - Vilnius-based Axiology Secures €2 Million in Funding

About Groover

Groover, which was founded in October 2018, links up-and-coming musicians with the top labels, radio stations, and curators. The site ensures that professionals and curators of music will hear your track, give you feedback, and share the songs they like.

Read also - France-based Pixee Medical Secures $15Million in Funding

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