Tel Aviv based music tech startup Revelator has raised an additional $2.5 million to expand its b2b digital music distribution, sales, licensing and analytics platform. The Series A round was ld by Exigent Capital with participation from the Digital Currency Group and early-stage fund Reinvent. To date, the startup has raised a total of $4.5 million.
“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 The majority of players in the media and collective rights industry still rely on outdated means of tracking distribution and payments, and have completely failed to adapt or modernize their infrastructure to properly handle the explosion of data,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.