Molten, a Cambridge, Massachusetts-based enterprise cloud-based platform that modernizes internal operations of media companies, across rights, content, and financials, raised $7 million in seed funding.

The round was led by Abstract Ventures, with participation from Ashton Kutcher, actor and Partner at Sound Ventures; and Michael Ovitz, co-founder at CAA and former President at The Walt Disney Company.

Other participating individuals include Jack Dorsey, co-founder and CEO at Twitter and Square; Bill Ackman, CEO at Pershing Square Capital Management; Kevin Yorn, leading entertainment attorney; Steffen Naumann, former CFO at Axel Springer; Todd Ruppert, former President and CEO of T. Rowe Price Global Investments, and Henry Ward, CEO at Carta. Other participating venture capital funds include Lakestar and Valor Capital Group.

Company: MOLTEN INC.

Raised: $7.0M

Round: Seed Round

Funding Month: October 2021

Lead Investors: Abstract Ventures

Additional Investors: Ashton Kutcher, Michael Ovitz, Jack Dorsey, Bill Ackman, Kevin Yorn, Steffen Naumann, Todd Ruppert, Henry Ward, Lakestar, and Valor Capital Group

Company Website: https://moltencloud.com/

Software Category: Enterprise cloud platform

About the Company: MOLTEN is a quest to empower rightsholders of digital media content by eliminating operational hurdles and making a content intellectual property more accessible globally. MOLTEN is a vision for a modern golden age of interdisciplinary media — one that can only happen now in a hyperconnected world. It's a vision that rights holders are paid seamlessly in real-time. Collaboration is fostered through a fabric of digital contracts, and every application (social, mobile, creative...) can legally interact with content in innovative ways. MOLTEN is a team of diverse individuals, founded in the heart of the Massachusetts Institute of Technology, committed to breaking the barriers that hold digital creativity and media experiences back today.

Source: https://www.prnewswire.com/news-releases/molten-raises-7-million-seed-funding-from-top-hollywood--tech-investors-to-modernize-internal-operations-of-media-companies-301405539.html