Thursday, March 23, 2006

Groove Mobile Raises $8.5 Million for Mobile Music

Groove Mobile, a start-up based in Andover, Mass., raised $8.5 million for its mobile music e-commerce platform. Groove Mobile is powering the new Sprint Music Store as well as mobile music services for wireless carriers in Canada, the UK (Orange), the European Union, and Asia. The company said it will use the funding to accelerate the growth of its mobile music platform while it continues to expand in global markets.

Groove Mobile's Complete Music Gateway includes Full Track Mobile Downloads, Peer-to-Peer Sharing and Personalized Music Recommendations, in addition to providing Personalized and Programmed Streaming Radio, Music Subscriptions, etc. The service provides access to music from EMI, Warner Music International, V2, Beggars Group, Digital Rights Management and The Orchard libraries.

The new funding was led by Egan Capital and included continuing investors Charles River Ventures, Kodiak Venture Partners, and Star Ventures.

See also