Los Angeles-based Songistry, an AI-based music expertise firm, has raised $5 million.
The funding was based mostly on a pro-forma $20 million valuation.
On Songistry’s web site, the corporate describes itself as “a frictionless discovery and licensing engine that democratizes entry to television/ movie, promoting and gaming licensing alternatives for music creators”.
It provides that its “workflows enable licensee’s to determine music with precision and accuracy utilizing proprietary AI”.
Songistry says that this funding will enable it to additional advance its progress technique and goals “to turn out to be one of many main forces within the Music Sync Licensing Trade”.
hyprAUDIO is claimed to be “the primary of its sort” AI powered search engine solely designed to attach consumers and sellers of music for television/ movie, promoting and gaming.
Songistry says that it’s at the moment has greater than 100,000 “able to license” copyrights.
“We can even be instantly exploring varied M&A alternatives in each music and expertise geared toward bolstering our present suite of providers.”
Justin Grey, Songistry
Justin Grey, Founder and CEO of Songistry, stated: “This vital funding comes at a pivotal time.
“As a totally funded firm, we’re planning to speculate this capital instantly into our IP and improvement roadmap together with our flagship MDIIO platform in addition to our latest product hyprAUDIO.
“We’ll increase on our mission by making use of AI to redefine and disrupt how music is found and licensed for movie, tv, gaming and UGC.
“We can even be instantly exploring varied M&A alternatives in each music and expertise geared toward bolstering our present suite of providers.”Music Enterprise Worldwide