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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFuzic Inc., the music-marketing startup backed by tech veteran Scott McCorkle, raised $3 million in seed financing and added a few prominent investors, the company announced Wednesday.
The Fishers-based company, which sells a software platform for on-site audio marketing, was founded last year and initially fueled by a six-figure financing haul involving angel investors. The new $3 million cash infusion, however, includes institutional investors High Alpha, Allos Ventures and Hyde Park Venture Partners.
Fuzic has raised $3.5 million since inception, a relatively brisk fundraising pace for an Indiana startup. It plans to use the new cash to advance product development and expand market reach.
"We've seen great customer adoption, and we’re excited to further develop our software to service the on-site needs of location-based businesses," CEO Brent Oakley said in written remarks.
Fuzic allows restaurants, gyms and other establishments to engage on-site customers with custom announcements and licensed-music playlists. Oakley, former CEO of Fishers-based Prime Car Wash LLC, came up with the idea last year to promote offers to customers sitting in Prime Car Wash lobbies.
Fuzic officially started selling its product in March. It has more than 300 clients today, the company said, with about a third of them signing on in just the past six weeks.
The company has more than 30 employees and is making plans to move into a 1,400-square-foot office in the Braden Building in downtown Fishers.
McCorkle is the former CEO of Salesforce Marketing Cloud. He heard about Fuzic through his wife, Tiffany, who co-runs the McCorkle's angel investing entity Excelsior Partners. In December, McCorkle started lending a recruiting hand in the business, tapping former tech colleagues to see if they'd be interested in Fuzic.
McCorkle also has strong ties with leaders at High Alpha and Hyde Park Venture Partners.
"We are very impressed with Fuzic's growth and early customer adoption," High Alpha Partner Mike Fitzgerald said in written remarks. "This is a strong, accomplished team who is perfectly positioned to build Fuzic into the market leader in location-based marketing."
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