Hook Raises $10M for Fan-Powered Music Remixing App
Hook, a social platform that allows fans to legally remix music from artists, has closed a $10 million Series A led by Khosla Ventures. The app's model focuses on user co-creation and participation, aligning with the trend of 'agentic' apps preferred by Gen Z and Alpha. The funding will be used to expand its licensed ecosystem.
- This Series A round brings Hook's total funding to $16 million. Other investors include Point72 Ventures, Imaginary Ventures, and Waverley Capital, which was co-founded by former Warner Music Group CEO Edgar Bronfman, Jr. - The company was founded by Gaurav Sharma, who was previously the COO of JioSaavn, India's largest music streaming service, which he helped scale to over 200 million monthly users. - Hook has licensing partnerships with Universal Music Group, Downtown Music/FUGA, Primary Wave, and others, giving its users legal access to a catalog of over 20 million songs for remixing. - The platform has seen significant user growth, with its active user base increasing by more than 45 times over the past 12 months. Campaigns with major artists and labels have generated over 250 million views across social platforms. - A portion of the new funding is allocated for product expansion, which includes launching an Android version of the app and introducing native video and recording capabilities. - The company recently promoted Simmi Singh to the dual role of Chief Operating Officer and Chief Product Officer; she previously led podcast strategy at Spotify and worked with Sharma at JioSaavn. - Hook's platform integrates with TikTok, Instagram, Snapchat, and SoundCloud, allowing users to distribute their creations while ensuring original copyright holders are part of the value chain.
