Berlin-based music-learning platform Skoove raises €3M in new investment round

Skoove, a Berlin-based music tech start-up has successfully secured an investment of €3M. Caparuca, MGO Digital Ventures and Ringier Digital Ventures join existing investors Egora Holding, IBB Beteiligungsgesellschaft and High-Tech Gründerfonds (HTGF).

Skoove, the piano e-learning platform founded in 2014, is on a mission to make music education accessible to everyone regardless of income or education. With genuine guidance and feedback from the app (available on iOS and in browser), people of any age can develop their piano or keyboard skills. They acquire theoretical music knowledge and learn the principles of composition and freestyle playing. Already, piano enthusiasts across 211 different countries have taken more than 1 million lessons on Skoove.

“With this new investment we are excited to take the next step in product development and growth. Expanding our team gives us the opportunity to further develop the technology and didactics that define Skoove and further push the growth of our customer base, especially in our core markets of North-America and Europe” says Florian Plenge, co-founder and CEO of Skoove.

Skoove’s carefully crafted lessons combine theory with practice playing favourite music pieces. Regardless of skill-level or taste in music, users can choose from 13 different courses as well as hundreds of popular tracks. While playing, an audio-analysis algorithm, developed by Skoove in cooperation with the Fraunhofer Institute, analyses the student’s playing technique through the microphone on their smartphone or computer. Every student receives personalised feedback together with guidance to help them learn the correct technique. Upon request, an individual consultation by Skoove’s own music teacher can be arranged.

Out of the millions of lessons played Skoove extracts new, quantifiable results concerning the students’ progress. These results are used in developing individual learning methods which are being directly integrated into the curriculum. Skoove’s didactic concept combines established music education with the possibilities of modern digital technology.

About Skoove
Skoove  is an online platform that teaches piano in an interactive way. Based on skill level, this includes how to read music sheets and tips to compose original music. At the moment 13 courses with more than 400 lessons and hundreds of popular pieces are available. Skoove is suitable for beginners as well as advanced students. The Berlin based company was founded in 2014 by Dr. Florian Plenge and Stephan Schulz. The team currently consists of 20 music enthusiasts. Students can start with free lessons on several skill levels. A Skoove Premium subscription is available from just €9.99 per month.

About MGO DV
MGO Digital Ventures GmbH is the subsidiary of Mediengruppe Oberfranken GmbH & Co. KG. MGO Digital Ventures supports start-ups with digital business models in the growth phase with venture capital. The Media Group Upper Franconia, headquartered in Bamberg, is a multimedia service provider – from daily newspapers and multi-channel marketing to specialist media and online portals.

About Ringier Digital Ventures
Ringier Digital Ventures AG is a company of Ringier AG. Founded in January 2015, the venture capital company focuses on investments in innovative digital start-up companies that benefit from the large media reach and the expertise of successful companies from the Ringier and btov network. Since January 2018, Marcau Partners GmbH, founded by Thomas Kaiser, David Hug and Benjamin Solenthaler, has been responsible for the development of Ringier Digital Ventures.

About IBB Beteiligungsgesellschaft
IBB Beteiligungsgesellschaft makes venture capital available to innovative Berlin companies and has established itself as the market leader in early-stage financing in Berlin. The funds are primarily used for the development and market launch of innovative products or services as well as for business concepts in the creative industries. Since March 2015, two funds managed by IBB Beteiligungsgesellschaft have been in the investment phase: VC Fonds Technologie Berlin II with a fund volume of EUR 60 million and VC Fonds Kreativwirtschaft Berlin II with a fund volume of EUR 40 million. Both VC funds are financed by the Investitionsbank Berlin (IBB) and the European Fund for Regional Development (EFRE), managed by the State of Berlin. Since 1997, IBB Beteiligungsgesellschaft has provided over 200 Berlin-based creative and technology companies in consortia with partners amounting to approximately EUR 1.43 billion, of which IBB Beteiligungsgesellschaft has invested EUR 200 million as lead, co-lead or co-investor.

About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 892.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 520 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.

To date, external investors have injected over EUR 2 billion into the HTGF portfolio via about 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Banking Group, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.

Contact
High-Tech Gründerfonds Management GmbH
Schlegelstraße 2
53113 Bonn
Dr. Olaf Joeressen
T: +49 228 82300143
o.joeressen@htgf.de
www.htgf.de