Funding

Kobalt Raises $60M for its Music Rights Collection Platform

32 Views

What does Kobalt Do?

Kobalt provides technology solutions for a empowering future of the right music owners.  Irrespective of the complexity of the music industry, Kobalt services is to provide a future for the publishers, artists and songwriters to get paid fair and accurately. Kobalt’s innovative technology includes the most advances licensing, collection and payment platform in the world.

The Kobalt Label Services, Music Publishing and Neighboring Rights Division offer an alternative to the regular music business. This provides the customers the power to flexible contracts, control, ownership and complete transparency.

How much Kobalt Funded?

Kobalt, the platform which helps the music rights holders collect royalties with more efficiency from across various digital music serves has raised $60 M in Series C funding on February 26th, 2015 from the investors Google Ventures and Michael Dell.

Previous funding

  • $16 M in Series A on February 2008, from investors Balderton Capital and Spark Capital.
  • $40 M in Series B on October 2013, from investors MSD Capital and Balderton Capital.

Acquistions

  • AWAL on January 1st, 2012, the price and terms are unknown.

What is next for Kobalt?

Williard Ahdritz, the founder and CEO of Kobalt said the funding will be used to scale the organization, increase the tech team to increase Kobalt’s speed and the expansion. It is to open 2 new offices in Miami and Brazil and South East Asia. Its target to open office in Brazil is to target the Latin Americans.

The total funding raised by Kobalt to date is $126 M, apart from the $153 M which it raised to finance its business label services where Kobalt either buys partial or complete rights of the artist to help collect the royalties on their behalf.

More about Kobalt

 

Kobalt music was found on 2000 by Williard Ahdritz with its headquarters based on New York.  Each of the services of Kobalt offers a modern alternative to the traditional music business model and empowers the creators with ownership, control and flexibility.

 

 

Related Posts