Kobalt, an independent music publishing and music rights management services company has secured $60M in Series C funding.
The capital will be used to support serving artists/songwriters and to develop and scale Kobalt’s suite of technology solutions; also the funding will help Kobalt bridge the gap between the music sector and the technology sector.
The participating investors of the Series C funding round include Google Ventures, MSD Capital and MSDC Management. This round of funding is in addition to the $66M already secured by the firm.
Willard Ahdritz, Kobalt Founder and CEO said: “We take great pride in the fact that Google Ventures and MSD Capital both share our vision of technology and transparency working together to create a new industry structure in today’s complex digital world. We are relentless in our mission to increase trust between the music and technology industries in order to build a new infrastructure that benefits fans, creators, rights owners and DSPs, all together.”
Bill Maris, Managing Partner at Google Ventures added: “The music industry is going through dynamic changes all around the world, and Kobalt will be instrumental in shaping its future positively for all constituents, starting with artists. The company’s solid execution over the past decade coupled with Willard’s unwavering passion and commitment made this an attractive investment for us. Kobalt’s commitment to trust, transparency and technology has positioned it as one of the most innovative brands in media today.”
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