Groover, a Parisian startup looking to level the playing field for emerging artists, has confirmed the raise of $8 million in a Series A funding round.
Founded in early 2018, Groover has now hoovered up approximately $16 million and will use the new investment to integrate a number of new services including coaching and career development support, as well as strengthen the company’s position in North America, Europe, and LATAM markets.
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.”
Groover’s Series A round was led by OneRagtime, Trind, Techmind, and MozzaAngels, and drew the participation of existing investors, Partech, Bpifrance’s Tech & Touch fund, Verve Ventures, and Frenchfounders.
The haystack
Before we dive into what Groover does, let’s take a step back and examine why Groover does what Groover does. When we’re talking music it’s next to impossible to ignore the Spotify/Apple Music/Amazon/YouTube Music, etc.-shaped elephant(s) in the room.
In 2023 alone, more than 120,000 new songs hit the airways every day, the chances of an unknown becoming known, are, quite literally, like finding the proverbial needle in the proverbial haystack.
Perhaps the best way to think of Groover is as the magnifying glass and or metal detector used in the haystack.
Moreover, Groover’s raison d’être is, “… to boost independent artists’ careers by providing direct networking opportunities with key players in the music industry.”
New products
Building upon this philosophy of working the net, according to Groover, it’s attracted approximately 350,000 independent artists from some 180 countries, resulting in over 4 million reviews handed out to artists from mentors.
Now, the company is looking to take its offer to the next level via the addition of two new services. Billed Groover Club and Groover Obsessions, the first offer will provide coaching, masterclasses, and personalised follow-up sessions to artists in France and the US, all aimed at helping artists increase their visibility with further granular advice.
At the zenith of Groover’s programme, Obsessions participants, which include Gorillaz’s bassist, Seye Adelekan, indie band Faux Real, up-and-coming musician ZOLA, and Swiss Olympic snowboarder and indie folk artist Pat Burgener, are hand-selected to participate in career development opportunities at the highest level.
Foreign revenues
Active in the US, Canada, Italy, Brazil, the UK, France, and Germany, Groover says that 80 per cent of its revenues are generated outside its home market, the US accounting for nearly half of this figure.
The newest investment round will see Groover put a strong focus on tapping into this foreign market revenue source.
On the investment, OneRagtime’s CEO and founder Stéphanie Hospital shared:
“Groover’s 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 confident that Groover will continue to redefine the landscape of music promotion, and we look forward to contributing to this success story.”
Lead image via Groover. Photo: Uncredited.
