FUGA Accelerates Growth With €6m Investment
FUGA will also use this injection to provide more granular benchmarking and reporting to its label clients
Amsterdam-based FUGA announced it receive a six million euro investment, following strong growth in recent years.
With FUGA's US team set to expand further, the funds - pledged entirely from current shareholders - will help drive the company's ambitious international growth, both organically and via possible acquisition.
Accompanying ongoing investment in its content and rights management and delivery services, FUGA will also use this injection to continue to hone its analytics and big data capabilities, providing more granular benchmarking and reporting to its label clients. FUGA will also use the funds to accelerate its offering to other segments, such as neighbouring and publishing rights and to grow dedicated teams, alongside expanding its territorial marketing and promotional services and expertise.
The announcement follows a string of new clients which recently signed up management services company mtheory and DJ Premier & Ian Schwartzman's label imprint TTT. This spate of new deals, coupled with a team which has more than doubled in recent years and a best-in-class reputation, puts the company in a perfect position for growth. The funds will be allocated over the coming two years.
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