Music app publisher MWM has announced a new Series B funding round of €50 million led by blisce/, Idinvest Partners, Bpifrance via its Large Venture fund, Aglaé Ventures, as well as with Xavier Niel who also joined the round.
MWM’s founders remain the majority shareholders of the company.
MWM intends to take full advantage of this new funding round to extend its app offer from Music to Creativity at large and to become the next leader across this expanded list of verticals. MWM, which now counts 70 employees in Paris and Bordeaux, plans to double its workforce by the end of the year.
Within a few years, MWM has successfully designed and published hit app titles that regularly reach the Top Charts, such as edjing Mix – the world’s most downloaded DJ app – or its suite of learning apps: Guitar, Piano and Drums.
“In 2019, in-app purchases on the App Store generated more than $120 Billion. This is huge, and represents a great growth opportunity for MWM”, explained Jean-Baptiste Hironde, founder and CEO of MWM.
The French company is looking to accelerate its expansion by extending its app portfolio beyond music to digital creative practices in general.
“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 Jean-Baptiste 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”.
Chloé Giard, Idinvest Partners added: “With more than 400 million downloads around the world, MWM already represents an amazing entrepreneurial success story. The team is now looking for greater challenges with the ambitious goal to become the world’s leader in creative apps. We are delighted to back them up in this new stage”.
Maïlys Ferrère, Large Venture said: “MWM has succeeded in becoming the world’s #1st music apps publisher thanks to its strong ability to innovate. We are very proud to support Jean-Baptiste and his team in this ambitious new project”.
Alexandre Mars, blisce/ added: “MWM’s mission to make creating more accessible is fully aligned with blisce/’s core belief that it is possible to both have a positive social impact while also creating a solid business with sustainable growth.
“We are proud to support Jean-Baptiste and the entire MWM team in their ambition to expand their offer and go far beyond music to become the world leader in creative applications.”