Dubset Media has closed a $4m Series A funding round to continue building its business licensing remixes and mash-ups for distribution on music-streaming services.
Boston-based VC firm Cue Ball Capital led the round, with Redwood Venture Partners, Resolute Venture Partners, Neoteny 3 and MediaNet chipping in.
Note the involvement of the latter: MediaNet was acquired by Canadian collecting society SOCAN in May 2016. Dubset CEO Stephen White’s statement focused on the lead investor though.
“Cue Ball’s leadership in this investment round and strong participation from the music and venture capital community validates our approach and strong belief that artists deserve to be fairly compensated for the use of their content,” said White.
“Our investors are a diverse group that shares our belief that the music fans who love mix and remix content are a massively underserved audience who will benefit immensely from our work at Dubset.”
The $4m round follows a $500k round of angel funding in July 2011 in Dubset’s early days. The company announced a deal with Apple Music in March 2016.
Its main competitor is Metapop, which has made more than 200 remixes available on Spotify and Apple Music so far.