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Groover raises $7M in funding round co-led by Partech and Bpifrance through their Tech & Touch fund, with the participation of Verve Ventures, French Founders New York and the founders of Jellysmack, totalling $8.7M raised so far
Nov. 4, 2021
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The goal: hire talent to accelerate growth internationally - in Europe, North America and Brazil.
Groover is already a reference for music promotion …
Today, more than 60,000 new songs are released every day on Spotify, a three-fold increase since 2018. Yet, while it has become easier to produce and release music online, it is now much more difficult for music creators to stand out from the crowd and gain visibility.
This is why Groover's founders, Romain Palmieri, Dorian Perron and Rafael Cohen, musicians themselves, decided to create Groover in 2018. Their vision is to build a platform through which artists can send their tracks to music curators and professionals wishing to discover new talents.
Since their public launch in January 2019, Groover has built a community of 70,000 independent musicians subscribed to the platform in more than 100 different countries. As of November 2021, over one million feedback have been provided by their vetted community of 1,500 music curators and professionals.
… Groover Is growing and launching an new artist accelerator, Groover Obsessions
In 2021, Groover launched an accelerator program for independent artists scouted out as the most promising music creators on Groover, the goal being to help them boost their careers and better monetize their musical projects. The Groover Obsessions program now boasts 50 artists, such as rapper Alvin Chris who was discovered after his viral videos on TikTok, the Canadian singer-songwriter thaïs, and the Nashville-based indie folk artist, Mcclendon.
This acceleration service uses scoring algorithms to detect the best talents, subsequently gathering a pool of partners (media outlets, funding, NFT monetization, tracking of publishing rights, distribution etc.) in addition to those already on the Groover platform, to help artists remain independent and better promote their music.
An international amplification: hiring and growth in Europe, North America and Brazil
Already present in a variety of countries such as the USA, Canada, Italy, Brazil, the UK and Germany, Groover is accelerating its development internationally. This fundraising represents a great opportunity to hire the very best talents in product, tech and business, globally.
“Groover will soon open its first offices in the US, which is already the second largest country for us after France, as 25% of our user base is from North America” announces Romain Palmieri, co-founder and CEO of Groover.
“Groover has established an extremely powerful network effect over multiple continents, through which their artists can promote their music within their own country as well as abroad, and on the other side, the media can quickly spot talent around the world. As a result, they have succeeded to reach an organic growth rate of 75%! It’s their worldwide ambition and the power of their business model that won us over.” Explains Alison Imbert, Principal at Partech
“We are proud to back Groover in this new step of their development. Groover, whose value proposition lies in the central issue of promoting artists, is already a strong point of reference within the sector. Their sizable community of artists and curators and their brand’s technological base are the founding principles that are allowing them to consolidate their position as market leader, to deploy their artist acceleration service, Groover Obsessions, on a much larger scale, and to accelerate their offerings internationally.” Said Guillaume Simonaire, Senior Associate at Bpifrance.
More about Groover here:
Additional content here: https://s.disco.ac/bnlnbrgjsqsu
Built in 2018, Groover is a music promotion platform for independent artists. Since their public launch in January 2019, Groover has built a community of 70,000 independent musicians subscribed to the platform in more than 100 different countries. As of November 2021, over one million tracks have received feedback from Groover's vetted community of 1,500 music curators and professionals.
Romain Palmieri, co-fondateur and CEO, email@example.com +1 201-987-7505
Born in San Francisco and Paris, Partech is one of the most active tech investors in the world, bringing together capital, operational experience, and strategic support for entrepreneurs at seed, venture and growth stages. The current portfolio includes 200+ companies in more than 30 countries, of which 12 are valued at more than $1B.
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Bpifrance's equity investments are carried out by Bpifrance Investissement. Bpifrance finances companies - at every stage of their development - in credit, collateral and equity. Bpifrance supports them in their innovation projects and internationally. Bpifrance also ensures their export activity through a wide range of products. Consulting, university, networking and acceleration programs for start-ups, SMEs and ETIs are also part of the offer proposed to entrepreneurs. Thanks to Bpifrance and its 49 regional offices, entrepreneurs benefit from a close, unique and efficient contact to help them face their challenges.
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