Google Ventures’ new London arm is making its first investment by leading a $60 million Series C funding round for Kobalt, a music rights management services firm that could help the next Taylor Swift build wealth.
Casey Rae, Georgetown University communications professor and CEO of the Future of Music Coalition, said Kobalt has “demonstrated leadership around how the music industry can function with greater efficiency and transparency.”
“From the perspective of a digital music service, you want your partners on the content side to have their house in order with regard to data and infrastructure,” he said in an email. “On the content side, you want to have confidence that you’re getting paid when your music is used on any platform around the world. And increasingly you want insights into not just what you’re owed, but what that data means.”