The music business has been battling with the most ideal approach to oversee digital rights and to ensure that musicians get their due for the songs they compose. Nowadays, there are huge numbers of organizations endeavoring to take care of the issue of managing, observing and paying performers for the songs they make. The most recent participant into this aggressive commercial center is HAAWK, which just acquired $2.5 million in new financing for its technology.
Rincon Venture Partners, Wavemaker Partners, Frontier Venture Capital and Apex Ventures all pooled in resources for the round of financing. HAAWK fundamentally serves something beyond music rights holders. The organization is additionally working with film and TV rights holders to guarantee they get paid for their work. The organization obtained certain assets and licensed Intellectual property from Dart Music, which petitioned for insolvency not long ago.
HAAWK tracks resources and conveys sovereignties for music and motion pictures circulated on YouTube, iTunes/Apple Music, Spotify, Amazon Prime Music, Pandora, Google Play, TIDAL, Deezer and SoundCloud.“The company is led by an experienced management team, fresh off an exit that yielded significant returns to investors,” said Jim Andelman, managing director of Rincon Venture Partners. “HAAWK provides products and services that solve complex challenges faced by today’s media rights holders, and the company’s strategy for unlocking new value for content owners is one that we both appreciate and support.” Andelman will join HAAWK’s board of directors because of Rincon Venture Partners’ contribution.
“Rincon has a reputation as one of the top-seed and early-stage VC firms in Southern California,” said Ryan Born, co-founder and CEO of HAAWK.“HAAWK is excited to partner with Jim and the Rincon Venture Partners team as we execute on our mission to bring transparency to the music and media ecosystem, increase earnings for and bring new opportunities to our growing client base.”
Born and his fellow co-founder Benjamin Barger earlier established AdRev/AudioMicro Inc., which brought just $1.25 million up in capital and developed into an Inc. 500 organization for 2013, 2014 and 2015, ahead of its sale to Zealot Networks Inc. in 2015 for a sum assumed to be in surplus of $20 million money.