Audiam Raises $1 Million to Accelerate Royalty Payments

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Royalty collection company Audiam has secured a new round of funding.

Audiam has raised $1,000,000 from Provident Financial Management and a large group of individuals.

The group includes: Tony Brummel (Victory Records Founder), Philip Kaplan (DistroKid Founder), Cliff Burnstein, Marc Geiger (Lollapalooza Co-Founder), Tom Atencio, Tom Windish, Howard Grossman, Tony DiCioccio, Berkeley Reinhold, Marc Reiter, Jason Mraz, Jimmy Buffett, and Bill Silva.

Audiam says they’ll use the money to accelerate royalty payments to publishers. This includes “streamlining global digital collections pipelines”, recovering unpaid digital royalties, “identification of unknown sound recordings and associated metadata”, and correcting composition metadata.


Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u


6 Responses

  1. Paul Resnikoff

    Provident Financial Management? Sounds more like a loan than equity financing:

    “We assist with the necessary financing for the purchases of homes and automobiles and other major acquisitions and manage your business and household employee payroll requirements.”

    Not sure how exactly Provident (or the others) structured their arrangements.

  2. Willis

    “The” Phil Kaplan of FuckedCompany fame? If so, everything he touches turns to shit, so prepare for an anchor to the depths of the murky dirty waters.