Within only four weeks, Zurich-based music startup iMusician was able to secure CHF 970’000 in fresh funding. Business angels from the investiere network contributed 670’000 to this oversubscribed financing round led by Joachim Schoss, founder of Scout24 and board member of the Neue Zürcher Zeitung as well as the Goldbach Group. The rest was contributed by existing shareholders as well as the Zürcher Kantonalbank (ZKB). This is the second financing round for iMusician that investiere has participated in.
iMusician provides an effective all-in-one solution for musicians to sell, market and license their songs online. The company offers a basket of services that replace a wide range of traditional music companies struggling to adapt to the new digital ecosystem.
“The successful closing of this oversubscribed financing round is not just a testament to iMusician’s approach in a space that is notoriously difficult to monetize,” states iMusician CEO Shigs Amemiya, “but also to investiere's highly engaged investors.”
“It was gratifying to see investiere's investors commit once in 2013 and then double or triple their stakes in iMusician in 2014. This highlights the power of being able to leverage many investors rather than one large investor. Furthermore, investiere helped iMusician secure new smart money investors, one of whom contributed a large six-digit amount,” Mr Amemiya added.
iMusician will use these funds to scale their marketing and operational efforts and develop innovative new features.
"With investiere, taking the lead for an investment round is a true pleasure,” states lead investor Joachim Schoss. “The team was very supportive and the financing process via the platform was smooth and hassle-free. To sum it up: investiere provides a truly professional service."
“We are happy that we were able to raise an impressive amount for iMusician in such a short time,” Steffen Wagner, CEO and co-founder of investiere, comments. “And we believe that one of the main reasons for our growing importance as one of Switzerland’s first addresses for early stage venture capital, is the fact that we are able to attract the best lead investors from each industry who then use investiere as their workbench”.
The press release is available below (English and German)