Hoopr raises ₹4 crore to boost smash & music licensing growth
In a significant development, music licensing startup Hoopr has raised ₹4 crore in an extended pre-Series A round, valuing the company at ₹160 crore. This funding milestone is a testament to Hoopr’s growing presence in the music licensing industry and its commitment to revolutionizing the way music is licensed and consumed. The funds will be utilized to expand Hoopr Smash, enhance user experience, and strengthen engineering, curation, and partnerships, ultimately driving the company’s mission to become the go-to platform for music licensing.
Hoopr’s music licensing platform has been gaining traction, with over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard. The company’s focus on providing high-quality, licensed music has resonated with creators and businesses alike, who are looking for affordable and reliable music solutions. With this funding, Hoopr aims to scale its catalog, expand its global reach, and build a more transparent royalty ecosystem.
The music licensing industry has traditionally been plagued by complex licensing processes, exorbitant fees, and a lack of transparency. Hoopr is changing this narrative by providing a user-friendly platform that allows creators to access a vast library of licensed music. The company’s algorithm-driven curation process ensures that users can discover new music that fits their specific needs, while its transparent royalty system ensures that artists are fairly compensated for their work.
The expansion of Hoopr Smash, the company’s flagship product, is a key focus area for the funding. Hoopr Smash is a music licensing platform that allows creators to access a vast library of licensed music, with features such as mood-based music discovery, personalized playlists, and seamless integration with popular video editing software. With the new funding, Hoopr plans to enhance the user experience, adding more features and functionality to make it easier for creators to find and license music.
Strengthening engineering, curation, and partnerships is also a key priority for Hoopr. The company plans to invest in its engineering team to improve the platform’s scalability, reliability, and performance. Additionally, Hoopr will focus on expanding its curation team to ensure that the platform’s music catalog continues to grow and evolve, with a focus on emerging artists and genres. Partnerships will also be a key area of focus, with Hoopr looking to collaborate with music industry players, creators, and businesses to expand its reach and offerings.
The music licensing industry is poised for significant growth, driven by the increasing demand for licensed music in videos, podcasts, and other digital content. Hoopr is well-positioned to capitalize on this trend, with its focus on providing high-quality, licensed music and a user-friendly platform. The company’s commitment to transparency, fairness, and innovation has earned it a loyal following among creators and businesses, and the new funding will enable Hoopr to take its vision to the next level.
In conclusion, Hoopr’s ₹4 crore funding is a significant milestone for the music licensing startup, and a testament to its growing presence in the industry. With its focus on expanding Hoopr Smash, enhancing user experience, and strengthening engineering, curation, and partnerships, Hoopr is poised to revolutionize the music licensing industry. As the company continues to grow and evolve, it’s exciting to think about the impact it will have on the music industry and the millions of creators and businesses that rely on licensed music.
News Source: https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
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