Money Monday: Groove Mobile

Filed in archive Companies , Finance on September 3, 2007

GROOVE MOBILE MOVES $6MILLION

Boston-area based Groove Mobile landed $6 million in a new round of funding from ORIX Venture Finance, for a total of $32 million raised. Previous investors included Egan Capital, Charles River Ventures, Kodiak Venture Partners, and Star Ventures.

Groove Mobile claims the largest mobile catalog in the world with music from EMI, Warner Music International, V2, Beggars Group, Digital Rights Agency and The Orchard. It's superdistribution strategy encompasses mobile downloads, P2P file sharing, and music recommendations. I Groove Mobile powers over-the-air music sales and downloads with partners across the world like Sprint Nextel, 3UK, Orange, Bell Mobility, and Telenor. The company has sold 35 million songs since 2004.