TMCnet News
AmpMe Raises $8M USD ($10M CAD) To Create World's Most Portable Sound SystemAmpMe, the app that allows users to play music in perfect sync across multiple devices to create one portable and powerful sound system, today announced it has received $8 million in Series A funding. The round was led by Relay Ventures with participation from Investissement Québec, Slaight Music, OMERS Ventures, Townsgate Media, Anges Québec Capital and Real Ventures. The music-syncing app also added YouTube (News - Alert) as a new music-streaming source enabling anyone to search for their favorite music on YouTube and create a synced video party with friends. The free app has achieved more than 2 million downloads since launching in September 2015 and is available on iOS and Android (News - Alert). To date, AmpMe has raised a total of $10 million USD ($12.5M CAD). Angel investors include Nathalie Marcoux, Etienne Veilleux, Martin Ouellet, Pierre Fleurent, Mark Britto (News - Alert), Dan Robichaud, Mike Cegelski, Richard Speer, and AmpMe CEO & Founder Martin-Luc Archambault. AmpMe plans to use the funding to hire the best talent, further invest in product development and in the underlying technology, as well as secure strategic partnerships. AmpMe is also activating YouTube as an additional music-streaming source so users can now search for anything on YouTube and play it louder, together with friends. It is estimated that YouTube accounts for 40% of all music listening on the Web. The addition of this channel is critical to ensuring AmpMe users have a full range of listening and viewing options. Partygoers can now simply choose YouTube as a music source and then search for their favorite vdeo or explore curated playlists of their favorite artist or music genre. "We're onto something here at AmpMe with over 2 million downloads since our September launch and our users are clamoring for more ways to use AmpMe in their daily lives to enjoy the music they love with friends," said AmpMe CEO Martin-Luc Archambault. "We are overwhelmingly positive about the future of AmpMe and our investors share the enthusiasm in wanting to help AmpMe become the most portable and social sound system in the world. Now, we need to listen to our users and continue to build features like the YouTube integration and many more cool music and social innovations in our pipeline. I'd better stop talking now and get back to work." "It's not often that a pitch meeting turns into a party," said John Albright, Managing Partner at Relay Ventures. "In that conference room, we all experienced the 'a-ha!' moment when we heard our favorite music becoming louder and louder as we synced our phones to the party. We were hooked. We love teams that think big, execute and know how to succeed. Martin-Luc and the team he's assembled have demonstrated all of the above so we took notice and are proud to be on board." Specifications:
AmpMe is available for free in the iOS App Store and Google (News - Alert) Play:
About AmpMe: Surround yourself with sound. AmpMe uses mobile phones to turn your friends into a powerful sound system. Play your music in perfect sync across multiple devices to create a powerful speaker. AmpMe is based in Montreal, Quebec and has raised $10 million USD from leading investors Relay Ventures, Investissment Québec, Slaight Music, OMERS Ventures, Townsgate Media, Anges Québec Capital and Real Ventures. Bring your music anywhere. Be the Speakers. AmpMe respects intellectual property rights and encourages users to do the same by having fun with their friends and families in private.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160526005443/en/ |
