Madrid-based event analytics software Breakevent has closed a €876K funding round. The round was led by Archipelago Next, accompanied by Startup Wise Guys and WA4STEAM along with business angels such as Miguel Echenique, partner of AltamarCAM.

The company has also achieved public financial backing from Neotec, the Community of Madrid, the Ministry of Culture and ENISA.

With this capital injection, Breakevent will accelerate its growth and develop an AI Agent trained in a closed environment with data specific and relevant to the live music event industry.

The events platform uses advanced machine learning techniques to predict the success of live music events. This technology reduces uncertainty to provide a basis for decision making for their upcoming concerts.

The live music software market in Europe is growing due to the increasing demand for digital content and the rising number of musicians and artists. The market is also being driven by technological advancements, such as AI integration and cloud-based software

‘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,’ commented Lucía Martínez Prado, CEO and founder of Breakevent.

“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.”

During 2024, Breakevent expanded its database to more than 1,700 venues in Spain.