Nimbit Grabs $1.25M

3/14/11

Framingham, MA-based Nimbit, a provider of online music marketing services, announced it has raised $1.25 million in two rounds of funding from its current investor group, to put toward expanding its product team and developing a direct-to-fan marketing product. CommonAngels, LaunchCapital and Mike Dreese, co-founder and CEO of the Boston-area music and entertainment retailer Newbury Comics, invested in a $377,000 financing for the startup last May. Two SEC filings from last week show that Nimbit raised $627,000 in an equity-based round, and $608,000 in an equity and rights offering.

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