Give this round to Revelator.
Revelator, billed as the “leader in rights administration for digital assets,” and located in Tel Aviv, Israel, have announced that they’ve locked down $2.5 million in their Series A funding round that was led by Exigent Capital, alongside Digital Currency Group and Israelite early-stage fund Reinvent. This adds to the already strong $3 million that the company has raised beforehand.
So, who or what is Revelator? According to their website, alongside their tagline, “Music’s everything,” Revelator’s the only platform “you need” so you can start tracking your assets, rights and data, and is made exclusively for artists, labels, and distributors. How does it work? Any interested client or customer just signs-up for the service and uploads their music to Revelator’s platform.
From there, Revelator takes over and makes the songs available on Spotify, Apple Music, or other digital store. Their press release states that Revelator uses a unique “SaaS platform [that] utilizes blockchain technology to allow rights owner the ability to license, distribute, track and manage content across multiple platforms.” They also provide “full and in-depth reports of how, where, and when their music is being consumed.”
After talking about how big the global music economy is, reaching what it calls a “massive $45-billion-dollar…economy,” it goes on to write that the majority of “players” in the collective rights industry still “rely on outdated means of tracking distribution and payments,” with them having completely failed “to adapt or modernize their infrastructure to properly handle the explosion of data, channels and new business models.” Unsurprisingly, that’s where Revelator comes in, thanks to what it calls an “integrated and cloud-based platform” that’s able to provide what modern artists and labels truly need.
The big question that does need answering is will this new platform truly work for the artist, or are we just seeing more of the same?