France-based music application publishing powerhouse Music World Media (MWM) has raised €50 million in Series B funding to expand its scope to other creative outlets.
The company had previously raised €10 million, and after racking up more than 400 million app downloads has now added investors such as blisce/, Idinvest Partners, Bpifrance's Large Venture fund, Aglaé Ventures and Xavier Niel to its roster.
Jean-Baptiste Hironde and Nicolas Dupré, who founded MWM in 2012, remain the majority shareholders of the company.
The startup says it will use the fresh cash to extend its app offer from music to 'creativity at large' and thus become the 'Adobe of mobile creativity apps'. It aims to double its workforce to 140 people by year's end, across its offices in Paris and Bordeaux.
"Unleashing people’s creativity has always been close to our heart. In only a few years, we have become a key player in the music app market, which is without a doubt one of the fundamental pillars of the creative industry," said Hironde. "Today, we aim to go one step further and position ourselves as the leading provider of the first creative apps suite for all. Creativity is a basic need and we want to share with the world this means of self-expression and foundation of personal development."
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