Exploration.io is a digital rights and content management company for YouTube and SoundCloud. The company’s website is pretty bare at the moment, but they say they offer “business class search technology” and YouTube CMS management.
Billboard reports that Exploration has raised $5 million from an unnamed source. The money will be used for royalty advances and royalty collection. Yes, Exploration will be giving royalty advances to their clients. They say they are the first company to do this.
Rene Meredith, Exploration’s COO, said:
“While the structure of the advance is quite similar to advances and royalty purchases any in the entertainment industry are familiar with, this is the first time a company has sought to service creators specifically in the digital realm…”
Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u