Our investment in Groover
In a landmark move for the music industry, Groover has announced a significant €7.5m Series A fundraising round, led by us at OneRagtime, Trind, Techmind, and MozzaAngels, with continued support from historical investors including Partech, Bpifrance's Tech & Touch fund, Verve Ventures, and Frenchfounders. Founded in Paris in 2019, Groover's mission is to become the go-to international platform for independent artists seeking to promote their music.
Groover has rapidly established itself as a unique platform, connecting 350,000 independent artists across 186 countries with media and music professionals. This service enables artists to have their tracks listened to and receive feedback within a week of submission, a critical tool for artists in a digital age where over 120,000 new tracks are uploaded daily across streaming platforms.
The Series A funding will be instrumental in transforming Groover into a comprehensive platform that addresses all the promotional, marketing, coaching, and career development needs of independent artists. It marks a significant step towards international expansion, particularly in Europe, North America, and Latin America, reinforcing Groover's commitment to offering unparalleled support to artists worldwide.
With the launch of two new services, "Groover Club" and "Groover Obsessions," Groover is expanding its suite of offerings. The Groover Club aims to provide around 1,000 artists from France and the US with coaching, masterclasses, and personalized follow-up sessions. Meanwhile, Groover Obsessions focuses on aiding the most promising artists in their career development, ensuring maximum visibility and profitability.
Already making 80% of its revenue from international markets, Groover's success story is far from over. With new funding, the company is poised to further its mission of empowering independent artists globally. The founders, Romain Palmieri, Dorian Perron, and Rafael Cohen, share their excitement for this new chapter, envisioning Groover as a global leader in music promotion.
"At OneRagtime, we're thrilled to be supporting Groover in this phase of growth. Their ability to connect artists with media and industry professionals is unique, and the vision of becoming the all-in-one platform for independent artists is particularly inspiring. We are convinced that Groover will continue to redefine the landscape of music promotion, and we look forward to contributing to this success story," says Stéphanie Hospital, CEO and founder of OneRagtime.
Groover's Series A funding is more than just a financial milestone; it's a testament to the platform's innovative approach to music promotion. As Groover sets its sights on international expansion and the development of comprehensive services for independent artists, the future looks bright for music creators around the globe. Stay tuned as Groover continues to revolutionize the music industry, one independent artist at a time.