Deezer Secures €100M in Funding

Deezer-LogoDeezer, a Paris, France-based on-demand music streaming service, secured €100m in funding.

The round was led by Access Industries, with participation from Orange.

The company intends to use the funds to increase customer acquisition efforts around the world, and accelerate the introduction of new products, features and growth initiatives.

Launched in 2007 and led by Hans-Holger Albrecht, Chief Executive Officer, Deezer provides a digital music streaming service in over 180 countries, with over 6 million subscribers worldwide. The platform allows fans to get access to a large streaming music catalog with more than 40 million songs and 40,000 podcasts. It is currently available as a free download for iPhone, iPad, Android and Windows devices or on the web at deezer.com globally outside the US.

Over the past several months, the company has continued working on growth initiatives. This included the effort to increase its talk offering to more than 40,000 radio shows, audiobooks and podcasts across several markets, to introduce sports and live football content, re-design its iOS and Android apps and expand its automotive offerings. Deezer has also established and expanded partnerships with BMW, BandPage, Sonos, Three and others.

FinSMEs

20/01/2016