MWM racks up 400 million music app downloads and raises $55.9 million

Mobile Apps Mar 04, 2020
MWM racks up 400 million music app downloads and raises $55.9 million

Paris-based Music World Media (MWM) racks up 400 million music app downloads and raises $55.9 million in a funding round led by Blisce/ with Idinvest Partners, Bpifrance and Aglaé Ventures with participation from Xavier Niel.

Founded in 2012 by Jean-Baptiste Hironde, MWM designs and markets music apps, and connected objects dedicated to music. The company has already registered more than 400 million downloads with (15 apps) covering the main music segment (Production, Gaming, Learning and Utilities).

MWM is responsible for such popular apps as edjing Mix, the world’s most downloaded DJ app. Other popular apps include: edjing Pro, Mixfader DJ, Beat Snap 2, Drum Machine, Tuner, Metronome, Stream, Equalizer+, Bass Booster, TaoMix 2, Piano, Guitar, Drums, and Beat Maker Pro. The company is now ranked #1 worldwide as a music apps publisher.

This latest round of funding brings total funding to €56 million, MWM will use the fresh cash to extend its app offer and increase its current workforce to 140 people by year’s end, across its offices in Paris and Bordeaux.

“Unleashing people’s creativity has always been close to our heart. In only a few years, we have become a key player in the music app market,which is without a doubt one of the fundamental pillars of the creative industry”, said Jean-Baptiste Hironde. ​“Today, we aim to go one step further and position ourselves as the leading provider of the first creative apps suite for all. Creativity is a basic need and we want to share with the world this means of self-expression and foundation of personal development”.

Chloé Giard, Idinvest Partners, said: “With more than 400 million downloads around the world, MWM already represents an amazing entrepreneurial success story. The team is now looking for greater challenges with the ambitious goals to become the world’s leader in creative apps. We are delighted to back them up in this new stage”.

Investors

The Blisce Group is an international investment management group that focuses on private equity and venture capital opportunities in technology companies and startups.

The Group includes Blisce Advisors, which operates in Paris and provides direct advisory services to the Blisce Group’s clients, and Blisce US LLC, which operates in New York and focused on venture capital investment opportunities, at times on behalf of the Blisce Group.

Idinvest Partners, founded in 1997 under the name AGF Private Equity, SA, is a pan-European private equity manager focused on the low and middle market segments.

The company has over 6 billion euros under management and has developed several complementary areas of expertise, including equity investments in buyout deals, focusing on both mid-size, as well as young innovative European companies.

Recent success stories include Criteo, Clear2Pay, Meetic, Prosensa, Converteam, Kwik Fit, Lastminute.com, Dailymotion, Deezer, Talend, Synthesio, Menlook, Vestiaire Collective, Pretty Simple, Curse.com, Withings, Kantox, Secret Escapes, Happn, Peakon, Dayuse, Botify, Financefox, Azalead.

Bpifrance is an investment management group that focuses on private equity and venture capital opportunities assisting startups in France and making the French economy more competitive.

Aglaé Ventures is a venture capital firm based in Paris, New York and San Francisco backed by Groupe Arnault, the controlling shareholder of LVMH, global leader in luxury goods.

Aglaé invests from € 100k up to € 100m in asset light tech businesses at all stages. Groupe Arnault-backed companies include Netflix, Spotify, Backmarket, Betfair, Airbnb, Slack, Algolia, Lyft and others.

Xavier Niel (born 25 August 1967) is a French billionaire businessman, active in the telecommunications and technology industry and best known as founder and majority shareholder of the French Internet service provider and Mobile operator Iliad.

In March 2010, Xavier Niel cofounded with Jeremie Berrebi Kima Ventures, a fund dedicated to invest in 50 to 100 startups a year everywhere in the world.

Glen Smale

Glen Smale is a FullStack Software Engineer & CTO @StaffCluster with 15yrs tech industry experience. He is a freelance technology Journalist and writer @Bundupress.

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