Glastonbury-based CÜR Media has raised $1.75 million from members of the company’s management and board of directors.
Other key music industry professionals participating in the financing round were Hector “Tico” Torres, drummer for the rock band Bon Jovi, and Robert Fernandez, president of Mr. 305 Inc., the independent record label founded by Pitbull.
The company intends to use the net proceeds from the offering for working capital and general corporate purposes as it gears up for the anticipated launch of CÜR Music, a social, mobile, and web streaming music application that is being designed to enable its users to go beyond the limitations of traditional music streaming services.
“This infusion of capital was vital in our effort to move forward to complete our near term and achieve an up-listing to a national stock exchange as we head towards the anticipated commercial launch of CÜR Music,” said Tom Brophy, founder and CEO of CÜR Media, Inc.
