Kobalt Raises $60 Million from Google Ventures and Michael Dell

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Kobalt has announced the closing of a $60 million Series C funding round. The round was lead by Google Ventures. Michael Dell’s MSD Capital and MSDC Management also contributed.

MSD Capital is a previous investor. Prior to this round Kobalt had raised $66 million.

According to Kobalt, funding will go towards “technology innovations to provide artists and songwriters with the most transparent, efficient and accurate royalty collection and reporting solutions“.

They also say they’ve had 40 percent growth every year for the past decade, and that over 8,000 songwriters and 500 publishing companies use their services. Clients include Beck, Dr. Luke, Foo Fighters, Max Martin, Paul McCartney, Pitbull, Sam Smith, and Skrillex.

By investing in Kobalt, Google Ventures and MSD are also investing in streaming infrastructure. In November Kobalt said European publishing income from Spotify was higher than iTunes. They also said streaming accounts for 10 percent of their global publishing income.

Bill Maris, Managing Partner at Google Ventures, said:

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 [founder and CEO Willard Ahdritz’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.”

 

Nina Ulloa covers breaking news, tech, and more: @nine_u

6 Responses

  1. agraham999

    Google owns a music store, they own the top promotional platform, they own the top search engine, they are investing in original content, they have production studios, they have the top mobile OS, they have devices to deliver media via mobile/tv/computer, they have a browser, and now…they have a piece of a publisher and label structure. So the circle is complete…and the snake begins to eat itself.

    Clearly this isn’t a conflict of interest at all.

    Nothing to see here, move along.

    Reply
  2. Anonymous

    Google owns a music store, they own the top promotional platform, they own the top search engine, they are investing in original content, they have production studios, they have the top mobile OS, they have devices to deliver media via mobile/tv/computer, they have a browser, and now…they have a piece of a publisher and label structure. So the circle is complete…and the snake begins to eat itself.

    Clearly this isn’t a conflict of interest at all.

    Nothing to see here, move along.

    And Amazon owns the Washington Post, what about it?

    If these people didnt step in and invest and spread some money around, these industries and companies could possibly go belly up or extinct, thus eliminating a ton of jobs…

    I mean, it isnt like these guys sat around thinking of a way to decimate all these industries with technology and the internet, it just sort of happened, so at least some of them step up and keep some things going anyways, let us hope every last one of them isnt on some Carver Media kick in the real world, otherwise we will need some 007’s jumping off the big screen and into the real world to clean things up…

    ill take the aston martin and the skyfall q branch gadgets thank you very much, and lets not forget the bond girls, every bond needs the girls, sans the goldfingering anyways… oh where oh where is pussy galore!!! lol

    🙂

    Reply
    • agraham999

      “And Amazon owns the Washington Post, what about it?

      If these people didn’t step in and invest and spread some money around, these industries and companies could possibly go belly up or extinct, thus eliminating a ton of jobs…”

      Puh-Lease. There is so much funding out there that has no ties to the same companies that are partially responsible for these industries going “belly up.”

      Are you telling me you see no problem with a company that represents the interests of artists who has to negotiate with YouTube/Google for the best deals…a company that needs to ensure the best independent opportunities, negotiating with the same firm they just took money from is not a conflict of interest?

      I guess you also don’t mind (via your Amazon/WaPo comment) that an “independent” news org is owned by a man who owns the delivery mechanism of that news and is helping to shape the editorial views of that news that is then delivered by the same platform is fine. Cause we certainly need more silos and less competition.

      I guess you’d also be okay if the same company that owned the oil fields, pumped out the oil, refined the oil, owned the transportation systems for the fuel, and then all the gas stations, and then controlled all the prices for it…oh wait…that actually happened and we did something about it.

      Reply

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