Synchtank is one of the established players in the B2B music and media space, with its tech for rights management and royalty accounting. Now it raised $5.8m of Series A funding led by VC firm Octopus Ventures, to add to the $750k of seed funding the company raised in 2020.
Having added royalty accounting system Iris at the start of this year, Synchtank is now pitching itself as “the backbone for any modern media company looking to unlock more value from their IP”, with customers including Warner Music, NFL and Vice as well as a swathe of independent labels and publishers.
Synchtank said it plans to use the funding to expand beyond Europe and North America, as well as boosting its team and continuing to develop its software.
“We have come a long way as a company with phenomenal progress in the last two years taking the company far beyond its original sync-based business,” said CEO Rory Bernard.