Amidst a very real venture funding cool down, direct-to-music fan commerce platform Nimbit has mange to complete a $1 million funding round led by New England based CommonAngels. The money will be used for new sales and product initiatives
While also serving the d.i.y. music community, Nimbit's strength is offering mid-sized artists, manager and labels e-commerce and marketing tools that enable direct delivery of digital and physical music bundles, tickets and merchandise. These power users can use Nimbit to manage multiple storefronts from a single interface centralizing accounting, list management, promo and mail-order fulfillment.
"Our business is growing because we are helping so many artists and labels grow their business and that is a truly great feeling. We see our platform and approach as central to the new model, especially as traditional retail and distribution continue to fade and become over-consolidated" states Nimbit CEO and founder, Patrick Faucher.
According to James Geshwiler, managing director for Common Angels, "Nimbit has a clear vision of how to drive the new business model for the music industry and its growth proves it. Nimbit has grown its artist base by 100% over the past year because the Nimbit platform simplifies their life and helps them make more money."