Enterprise and monetary management system HIFI has done a strategic funding spherical with a heavyweight list of backers, like artists, executives, artist administrators and prominent investors.
Among those people who participated in the funding spherical are Capitol Music Team Chair and CEO Michelle Jubelirer, Crimson Mild Management founder Coran Capshaw, Patriot Administration founder Ron Laffitte, Maverick’s Gee Roberson, Wasserman Music’s Tom Windish, artist manager Brandon Creed, Hipgnosis’ Nick Jarjour, 300’s Rob Stevenson, TMWRK’s Andrew McInnes, and Mick Management’s Jonathan Eshak and Michael McDonald.
The value of the funding spherical has not been disclosed, but MBW understands that it was an eight-determine sum.
HIFI released in the US in 2020 with key league supporters which include Matt Pincus, who joined HIFI’s board and is an trader via his financial motor vehicle Songs – a joint venture with LionTree.
Founded by Damian Manning (CEO), HIFI dubs alone as a “financial legal rights organization” and statements to be “building revolutionary products and solutions and companies that function in concert with them to monetarily empower the creator class”.
Other investors in this spherical include things like Taz Taylor and Nick Mira of Web Dollars, Diplo, 3LAU, G-Eazy, A-Trak, Hayden James, and the legendary Quincy Jones.
HIFI also attracted financial commitment from The Revels Group’s Jamil Davis and Matt Bauerschmidt, Timeless Songs Entertainment’s Daniel “Birdman Zoe” Desir, Splice’s Steve Martocci, SESAC’s John Josephson, Hipgnosis’ Alex Black, Crimson Gentle Management’s Steve Satterthwaite, Campfire Songs’ Ollie Hammett and Seth Kallen, 88rising’s Jason Ve, Ozone Entertainment’s Bret Disend, 1916’s Jonny Gordon, Dead Logic’s Andre Cisco II, LLBM’s Justin Kobay, London & Co’s Scott Adair, TKG’s Josh Klein, and music lawyer Gene Salomon of Gang, Tyre, Ramer, Brown & Passman.
Also, audio publishing veteran Matt Pincus participated in the round by using his expense motor vehicle Songs, a joint undertaking with LionTree.
Pincus was formerly the Founder and CEO of Songs Audio Publishing which was acquired for a nine-determine sum in 2017 by a fund managed by Kobalt Cash.
He’s joined by other notable investors this sort of as VC agency Lerer Hippeau, Swedish family members place of work Bonnier Group, keeping organization Eldridge, Chord Songs Companions co-founders Dundee Associates, LGBTQ+ syndicate Gaingels, angel trader Abe Burns, previous Airbnb Encounters direct Joe Zadeh, OpenGov Co-Founder & CEO Zac Bookman, Fundera Co-Founder & CEO Jared Hecht, and former Spotify Chief Economist Will Web page.
HIFI promises that “thousands of impartial creators” such as recording artists, producers and songwriters, and their teams have signed up to use its Royalties Dashboard solution, a money system that aggregates info from labels, distribution products and services, Pros, new music publishers and others.
The organization states that it introduced assist for artists signed to important labels and publishers past calendar year, and just lately released an Enterprise variation of its dashboard constructed in partnership with “more than a dozen prime enterprise administration firms”.
Somewhere else, HIFI says that is launching an “enhanced royalties acceleration service” this 12 months, which it suggests was facilitated by its current acquisition of Warner Music Group and Techstars New music-backed begin-up, The Audio Fund.
The Tunes Fund presents funding solutions for artists based mostly on the streaming effectiveness of their music on electronic providers like Spotify and Apple Tunes.
“The guidance we are receiving from artists and their allies is definitely unparalleled and indicative of how vital our mission is of providing monetary transparency and independence to creators throughout the songs industry.”
Damian Manning, HIFI
“The assist we are getting from artists and their allies is genuinely unprecedented and indicative of how essential our mission is of offering financial transparency and independence to creators across the songs sector,” said Damian Manning, Founder and CEO of HIFI.
“This strategic money will speed up the expansion of HIFI’s economic infrastructure and systems, furthering our motivation to directly empower creators with significant business insights and enhanced liquidity to fuel their occupations.”
Extra Manning: “It’s a massive validation that the management groups and economical firms who manage the affairs of the world’s major artists have joined our mission.
“Artists are releasing additional articles than at any time in advance of, with various collaborators and by using multiple distribution channels together with blockchain.
“Our purpose with HIFI is to make sure that creators of all levels and their groups profit from a thorough picture of what they’re earning and entry to the liquidity they want to make optimum occupation conclusions over the extended-term.”
“As the new music company evolves through the streaming period and into website3, HIFI is the one stage of integration in which creators can access and assess their funds throughout resources in authentic time.”
Matt Pincus, New music Co-Founder and CEO, a HIFI trader and board member, reported: “As the new music business enterprise evolves by the streaming period and into web3, HIFI is the one stage of integration in which creators can entry and analyze their funds across sources in serious time.
“With this new round of strategic money and the new start of HIFI Company, the world’s most important artists are now looking at what the impartial group has very long recognized: HIFI is indispensable in empowering creators to maximize their fiscal means.”
“The options are unlimited with HIFI and creatives coming together.”
Quincy Jones explained: “It can make my soul smile to see artists achieve accomplishment on their individual phrases, and without the need of compromise. The choices are unlimited with HIFI and creatives coming jointly.”
“HIFI’s insights are crucial to understanding the worth that creators are building throughout the sector.”
Gee Roberson claimed: “HIFI’s insights are critical to comprehending the price that creators are building across the industry.”
“HIFI can help creators increase their monetary upside. And that is a superpower in this business enterprise.”
Taz Taylor explained: “HIFI aids creators improve their financial upside. And that is a superpower in this enterprise.”
“HIFI provides extended-awaited transparency to historically opaque audio industry economics.”
3LAU reported: “For today’s artists pursuing boundless opportunities, HIFI provides extended-awaited transparency to traditionally opaque music market economics.”
“HIFI is resetting the sector dynamic, generating it achievable for more artists to make investments in by themselves.”
G-Eazy included: “HIFI is resetting the market dynamic, building it achievable for additional artists to make investments in by themselves.”
“As business enterprise administrators, HIFI will help us make sure we’re not leaving any of our clients’ money on the desk.”
Justin Kobay extra: “As business professionals, HIFI helps us make sure we’re not leaving any of our clients’ dollars on the desk.”
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