INgrooves

INgrooves is a music distribution company that provides diverse services to artists and labels, focusing on music publishing, digital distribution, and artist development. INgrooves was founded by Matt Burns, Matthew Burns, and Robb McDaniels, serving as a music distribution service for artists and labels. The company is headquartered in San Francisco, US, and has undergone a significant transaction with Universal Music Group, which acquired INgrooves from Shamrock Capital in February 2019 for undisclosed terms. The total amount raised by the company is USD 6.

67 mn through a Series B funding round, which occurred on February 12, 2019, and the company has participated in a total of 6 deals. INgrooves offers a comprehensive suite of music distribution services that includes record label services, music publishing, and digital distribution aimed at both established and emerging artists. The company supports a wide array of artists across various genres and operates in multiple countries, including the United States, Canada, the United Kingdom, South Korea, Australia, as well as several Latin American and European nations. INgrooves generates revenue through a diverse business model involving partnerships with artists and labels, direct-to-consumer sales, and revenue-sharing agreements.

This model facilitates the distribution of music across various platforms, monetizing through streaming services, digital downloads, and physical album sales, while negotiated contracts typically outline revenue splits based on performance. INgrooves is positioned to leverage its recent funding to further enhance its product offerings and geographic reach. The company plans to introduce new music distribution products tailored for digital platforms in the coming year. Additionally, INgrooves is exploring expansion into emerging markets in Asia and Latin America by the end of 2023, aiming to capture a larger audience for its services.

The funding from the Series B round will be primarily utilized to support these initiatives and strengthen its operations globally.