ANDOVER, Mass.—Mobile music company Groove Mobile announced it closed $8.5 million in new venture funding. Egan-Managed Capital led the round, while Charles River Ventures, Kodiak Venture Partners and Star Ventures also participated. Groove has so far raised more than $20 million in funding.
“Groove Mobile is poised to continue its leading role in the mobile music sector with a strong management team, a dominant market footprint, and innovative technology,” said Travis Connors, a partner with Egan-Managed Capital. “We are excited to contribute to this growth and look forward to helping the company realize its full potential.”
Groove Mobile powers the full-track music download services for Sprint Nextel Corp. and Orange in the United Kingdom.
