Scratch Music Group, a fast growing music and technology company, announced today that it completed an additional round of growth financing. The company will use the funds to accelerate its growth, make acquisitions, pursue strategic partnerships and grow the team.
The financing was led by New Enterprise Associates (NEA) and includes participation from existing investor Contour Venture Partners.
Since completing its Series A round of financing and launching its Scratch Weddings division in 2010, the ten year old Scratch Music Group has cemented its position as the definitive brand and service provider in the DJ space. At its core is the largest team of highly screened, trained and tested marquee DJs ““ with a talent network of over 1,000 across the globe. Through its diverse and proprietary team of DJ professionals, turnkey service delivery operation, established brand and proven results, the company has become the nation’s largest DJ solutions company and DJ learning center. To date, Scratch has provided DJs for more than 30,000 events and weddings and over 60 national tours for top brands including MTV, Saks, Vans, Bloomingdale’s, ESPN, Royal Caribbean Cruise Lines, Sandals & Beaches Resorts, Sephora, Nike, Pepsi, H&M, W Hotels and many more. Similarly, Scratch DJ Academy has taught over 500,000 people how to DJ through its proprietary DJ and music production curriculum. Furthermore, since funding Scratch Weddings has seen 100% growth in revenue, bookings and executions.
“Our goal has always been to deliver performances that create loyalty and trust from the brands and consumers we service. We’re inspired by the role music plays in people’s lives and are driven to create memorable experiences that are above and beyond expectations,” said Rob Principe, founder and CEO of Scratch Music Group. “We are thrilled to have such world-class investors joining forces with us.”
“We are delighted to have led this financing round and believe Scratch Music Group is well on its way to becoming an iconic music and technology company,” said Harry Weller, General Partner at NEA. “We have seen Scratch build an amazing brand, evolve its offerings and dominate the DJ space and we look forward to helping the company catapult into its next phase of growth.”