London social media venture JustGo has closed a new funding round to finance the opening of a US office at the beginning of 2014.
The $1.7 million (£1 million) injection involves the company’s founder, Rosemont Group Capital and one of the founding investors in Beatport.
Set up in 2011 and launched in 2013 by American entrepreneur Justin Golshir, JustGo serves as a music and entertainment offering which aggregates social media platforms such as Twitter, YouTube and SoundCloud onto one stream.
Its aim is to capture social data so that entertainers can engage with, and ultimately monetise, digital audiences.
JustGo’s first funding round occurred in November 2011, when a $750,000 seed round was led by Golshir. Joining Golshir now in backing the business is Rosemont Group Capital, a firm set up by British entrepreneur and investor Freddie Achom.
The new funds will help introduce new revenue opportunities such as content monetisation, commerce, and connecting corporate brands with emerging entertainers.
Jonas Tempel, the co-founder and former CEO of Beatport, has joined the investment group and will be serving as chairman of JustGo to help with strategic direction.
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Golshir comments, ‘Jonas is a true visionary who built Beatport from the ground up into one of the world’s most recognisable brands.’
Tempel took to JustGo, he says, because of its ability to optimise and improve the workflow of content creators like himself who are managing careers and livelihoods on a daily base across an increasing range of social publishing platforms.
‘In my mind, the power of JustGo and its utility cannot be underestimated as both a solution and a true aggregator in helping a new world of digital creators harness the power of digital content and social audiences,’ he adds.
JustGo’s user base of 50,000 includes Armin Van Buuren, Above and Beyond and Arty. Its revenue stream is centred round monthly subscription costs.
