Muzooka, a social music discovery and technology company, this week announced they’ve completed a $3 million Series A financing round.
Total raised capital to date sits at just over $3.6 million for the Calgary-born startup.
Muzooka says it plans to use the funding to expand staff, focusing on data exploration, and mobile and product development.
Ron Sakamoto, concert promoter extraordinaire and owner of Gold & Gold Productions, will join its board of directors, alongside Doug Nyhoff (Executive Chairman), and Shawn Wilson (CEO), according to the Canadian-born company. Sakamoto has served as board member on both the Country Music Association and the Canadian Country Music Association.
“I look forward to the innovative and unique business model in which Muzooka is pioneering,” Sakamoto said in a release. “Muzooka and its team of internet entrepreneurs are convinced that the current music industry model and current music startup services are too deeply concerned with owning and profiting from artists and music rights, and less so about the music art and the artist.”
“Muzooka is taking a bold approach to solving the industry’s challenges and will change the direction it is going,” he added. “It’s truly a reinvention and I’m proud to be a part of it.”
“We are taking a considerate and methodical approach that will connect all music lovers of all talents together, and formally create a solution not just for everyone involved but a new foundation for the music industry to stand on,” affirms Wilson.
Muzooka was founded in 2012.