The music industry has been struggling with the best highway to finagle digital their entitlements and to make sure that for decades craftsmen get the money they’re due for the psalms they write.
These daylights, there are tons of companionships trying to solve the problem of managing, monitoring and paying musicians for the carols they construct. The recent entrant into this competitive marketplace is HAAWK, which just composed $2.5 million in brand-new financing for its technology.
Rincon Venture Partners, Wavemaker Partners, Frontier Venture Capital and Apex Ventures all participated in the company’s latest round of financing.
HAAWK actually performs more than only music rights holders. The company is likewise working with cinema and television services and facilities rights holders to ensure they get to pay compensation their work.
The company too acquired certain assets and intellectual property from Dart Music, which entered for insolvency earlier this year.
HAAWK moves assets and hands royalties for music and movies distributed on YouTube, iTunes/ Apple Music, Spotify, Amazon Prime Music, Pandora, Google Play, TIDAL, Deezer and SoundCloud.
“The company is led by an experienced conduct team, fresh off an depart that produced significant returns to investors. HAAWK provides products and services that solve complex invites faced by today’s media rights holders and the company’s policy for unlocking new price for content owneds is one that we both admire and subscribe, ” said Jim Andelman, the managing director of Rincon Venture Partners.
HAAWK was founded by Ryan Born, a serial industrialist whose previous digital rights business, AdRev/ AudioMicro, was sold to Zealot Networks for $ 20 million. AdRev parent approximately $1.25 million before its sale.