Kobalt Music Group announced its latest funding round yesterday: $140m through its investment subsidiary Kobalt Capital. The round includes $25m from MSD Capital, the investment firm for tech mogul Michael Dell, which was announced earlier this year. Kobalt, which has been making steady progress signing up music rights and developing its royalties platform in recent times, says it’ll use the new funding to “build on its success by providing its artists and songwriter clients with access to new capital” according to CEO Willard Ahdritz. “It will also be used to expand and further develop our technology platform, which is already the fastest and most efficient way to manage copyrights and royalties.” In an interview with TechCrunch, Ahdritz gives a few more details, noting that the company has now raised $250m since its launch in 2001. He also suggests that the funding will fuel more business deals for Kobalt: Pandora, SoundCloud and Deezer are three potential partners mentioned in the piece.
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