Breakevent, a Madrid-based platform for the music industry that predicts the success of live music events, has closed a €876k funding round in order to accelerate growth and develop an AI agent trained in a closed environment with data specific and relevant to the live music event industry
The funding round has been led by Archipelago Next, with additional investment from Startup Wise Guys, WA4STEAM along with renowned business angels such as Miguel Echenique, partner of AltamarCAM. The entity has also received public financial backing from Neotec, the Community of Madrid, the Spanish Ministry of Culture, and ENISA.
“The backing of strategic investors together with the public support received is a key step for Breakevent. This funding will allow us to accelerate the development of our platform, especially in the area of artificial intelligence, and expand our database, which will position us as the ultimate AI decision-making tool for the music industry,” said Lucía Martínez Prado, Founder and CEO of Breakevent.
Founded in 2019 by Lucía Martínez Prado, Breakevent is designed to provide valuable information to music industry professionals in order to reduce uncertainty and facilitate decision making for their upcoming concerts.
During 2024, Breakevent experienced significant growth, expanding its database to more than 1,700 venues in Spain. The platform has reported a 700% increase in the number of concerts registered in its database, has assisted in the organisation of events with capacities ranging from 100 to 75k people and has increased the number of analyses carried out by its clients by 65%.
“We offer two predictive models. One predicts the optimal average price and average capacity of the concert venue. The other model gives you three scenarios of how ticket sales will go: a conservative, a realistic and an optimistic projection,” added Prado. “In addition, we have a consulting service that offers more information on trends.”
Breakevent has been recognised for its innovation in the sector, receiving awards in Cologne (Germany), as the most innovative startup in the music industry, and at BIME, the largest music industry meeting in Spain.
With a team of eight people led by Prado, Breakevent looks to cement itself as the definitive AI decision-making tool for the music industry, offering analysis, comparisons and predictions that allow promoters, managers and venues to optimise their live events.
Looking ahead to 2025 and according to Prado, “Our main objective is to continue to grow in national clients and consolidate our position as the reference data platform for the music industry in Spain, as well as starting to expand beyond our borders by incorporating international clients.”
Read the orginal article: https://www.eu-startups.com/2025/01/breakevent-closes-e876k-round-to-power-its-ai-platform-that-helps-concerts-succeed/
