IDAGIO Raises €8m

05 December 2017 - Press release

IDAGIO, the specialised streaming service for classical music, has successfully closed its Series
A funding round and was able to secure prestigious investors such as Tengelmann Ventures
Management GmbH, Mülheim/Ruhr as well as other well-known Business Angels for their business
model. In total, IDAGIO was able to raise 8 Million Euros. Alongside the new stakeholders, early-stage
investor b-to-v Partners is also increasing its financial commitment.

Till Janczukowicz, founder and CEO of IDAGIO: “The confidence investors are showing in us indicates
that we are on the right path. With these new resources we are in a position to further establish our
position as a leader in the technology sector and to strengthen our commitment to creating the world’s largest classical music catalogue. This is yet another milestone on the way to creating the best streaming service for classical music.”

IDAGIO first launched in 2015 at the Salzburg Festival, presenting its mission to provide an avenue for
classical music in the digital space. Janczukowicz: “Search criteria such as composer, work, conductor,
orchestra, soloist etc. that are inherent to classical music are missing in the metadata structure of
all-genre streaming services. Consequently classical music lovers have to tolerate frequently incorrect
search results, resulting in a poor user experience. Classical musicians and their recordings are only
found with difficulty, if at all. We have come up with a technological solution which makes experiencing classical music simple, convenient and accessible to everyone.”

IDAGIO’s catalogue already encompasses more than 140,000 recordings, with more than 5,000
recordings being added each week. IDAGIO is available as a paid service via its iOS app, Android app as well as idagio.com.

With 46 employees, IDAGIO already has users in over 70 countries. Janczukowicz: “Streaming is already one of the preferred ways to listen to music by consumers and the future for classical music. IDAGIO transforms every smartphone into the ultimate classical music collection: on the go, in the car, at home.

Classical music is a global and timeless art form which is positively associated with Germany. For us,
digitising classical music is therefore both a cultural necessity and an economic opportunity.”
Jochen Gutbrod, partner of b-to-v Partner AG and one of the very first investors, says: “We were
convinced from the very beginning that IDAGIO had identified a major need of classical music lovers and provides a solution with genuine added value. The development since then has confirmed our belief - you just have to take a look at the user ratings in the App Store.”

It was IDAGIO ́s particular focus on the global niche market for classical music streaming that convinced Christian Winter, CEO of Tengelmann Ventures: “We are convinced that many classical music lovers will decide in favour of IDAGIO. As a result we see great market potential for our investment.” Tengelmann Ventures is one of the leading Venture Capitalists in Germany. They have invested in over 50 companies since 2009, many of which have become global players and leaders in their respective markets, among them Delivery Hero, UBER and Westwing.