Music website Deezer has raised EUR6.5m using funds from AGF Private Equity and CM-CIC Capital Prive.
This second fundraising brings the company’s total working capital to EUR12 .2m since its creation in August 2007.
Guillaume Lautour, partner of AGF Private Equity, is joining the company’s board of directors.
With over ten million users in Europe, including six million in France and more than one million downloads of its mobile phone apps, Deezer is one of the most popular music site in Europe.
"We are delighted to welcome the assistance of AGF Private Equity and CM-CIC Capital Prive in the Deezer adventure. Their experience in the media and internet sectors is decisive in the continuation of our business. This equity validates our position and strategy. We are henceforth prepared to continue with our development using state-of-the-art models in all European countries," said Jonathan Benassaya and Daniel Marhely.
Lautour adds: "Deezer is an amazing company and one of the few players capable of deploying its model globally for the benefit of users and production companies with whome it is actively collaborating. The company is focussing on the medium term and this pool of funds is just one more step in that direction."
Deezer is continuing its strategy for growth and has announced the creation of Odyssey Music Group, its parent company. OMG will support production activities and some technological developments, especially those linked to mobility. Deezer remains an independent publication held by Blogmusik SAS.
