Israeli digital music assets management platform Revelator has closed a $2.5 million series A financing round led by Exigent Capital. Additional participants in the round include Digital Currency Group, and Israel early-stage fund Reinvent. The Jerusalem-based company, which was founded by CEO Bruno Guez, has raised $5.5 million to date.
Revelator will use proceeds from the funding round to expand its current offerings and introduce new features that will attract market verticals, multi-channel networks and broadcasters.
Revelator’s data analytics platform effectively sources the use of digital assets to enable real-time transactions and micro-payments, ensuring the correct identification and distribution of payments to artists and rights holders. The company’ SaaS platform utilizes blockchain technology to allow rights owners the ability to license, distribute, track and manage content across multiple platforms, thus increasing the reliability, accuracy and timeliness of compensation for digital assets. Revelator’s data intelligence platform also empowers artists and rights holders to receive full and in-depth reports of how, where and when their music is being consumed.
Guez said, “We are talking about a massive $45-billion-dollar per year global music economy, where people are consuming more and more music, and amazingly almost half of royalty payments aren’t finding their way back to the beneficial owner. The majority of players in the media and collective rights industry still rely on outdated means of tracking distribution and payments, and have completely failed to adapt or modernize their infrastructure to properly handle the explosion of data, channels and new business models,” said Bruno Guez, CEO and Founder of Revelator. “An integrated and cloud-based platform such as Revelator is able to provide attribution, reporting and business intelligence from one dashboard, enabling distributors, record companies, publishers, managers, artists and songwriters access to their sales and marketing data wherever they are. We’re giving the music and media industry the system it needs to drive revenues, fairness and, ultimately, the art we love.”
Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2016
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