Paris based music streaming service Deezer has raised another $185 million in funding based on a $1.16 billion valuation. It's an impressive value for a service with just 14 million active users. Deezer has raised $531 million total to date.
Investors participating in the new round include Kingdom Holding Company and Rotana, led by Chairman HRH Prince Al-Waleed bin Talal, Access Industries (owners of WMG), Orange and LBO France.
Deezer also announced a partnership with the Dubai-based Rotana Group to distribute Rotana’s content across the Middle East and North Africa, including Egypt, Saudi Arabia, Turkey and the United Arab Emirates.
“The new funding enables us both to accelerate our expansion in fast growing international music markets and strengthen our positions in key territories,” said Deezer CEO Hans-Holger Albrecht. “The exclusive long-term distribution agreement also provides us with a unique opportunity to build future market leader positions in exciting markets.”