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Kobalt Raises $140 Million in Latest Round of Funding…

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Global publishing, label services, and rights management company Kobalt Music Group has a massive funding announcement. The company has 2,000 clients and manages the rights of 600,000 songs.

In their latest round of funding, Kobalt raised $140 million to “accelerate rapid growth”.

$25 million came from a recent equity investment by MSD Capital, L.P., which was announced in March.

The other $115 million in expansion capital comes from unnamed long term investors.

Part of the money will be used to further develop and expand Kobalt’s copyright and royalty management platform.

hand-left May 1st: “Kobalt Launches Their Own YouTube Detection Technology…

Kobalt’s Founder and CEO Willard Ahdritz believes that tech will dictate the winners in the music industry. Ahdritz says:

“Content today is splintered into billions of micro transactions.  To manage, match and statement such a flow is extremely complex. Only with cutting edge technology and a culture of managing costs can we ensure that our clients’ content is maximized.”

 

Photo is by 401kcalculator.org used with the Creative Commons License

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