Nimbit Scores $1.25 Million Funding Round

This isn’t the start of another bonfire, at least not yet.

Just this morning, Nimbit shared the news of a $1.25 million round.  It’s a nice, relatively conservative bet, and another sign of cautious optimism around DIYs.

Nimbit confirmed the round to Digital Music News, and pointed to participation from existing investors.  That follows a similarly-sensible amount for FanBridge, though it pales in comparison to outlandish bets for other music plays like Beyond Oblivion ($77 million) and Rdio ($7.5 million in its latest round).  “The music industry is now turning the corner and direct-to-fan has emerged as the new model,” said Bob Cramer, Nimbit’s CEO. “We’re fortunate to be in the right place, at the right time, leading this direct-to-fan revolution.”

Nimbit had previously raised $2.6 million since 2005.

One Response

  1. GreGG

    Congrats to Nimbit!

    “Direct-to-fans” is certainly the directions now. Or, better yet, it should be “Fans in Concert with Their Favorite Artists,” as it is at 🙂

    We believe the interaction can and should go both ways. Fans are no longer “just” listening to music; they want to play with it as well.