Synchtank, a London-based B2B SaaS company that provides asset and rights management and royalty accounting solutions for the music and media industries, completed a $5.8 million Series A funding.
The round was led by Octopus Ventures, with participation from existing management and shareholders.
Synchtank’s latest investment round follows a total of $750,000 seed funding from management, shareholders, and Juno Capital Partners in 2020, bringing the total raised in the past year to $6.6 million.
The company is now looking to expand its team, improve and expand existing services and features, and expand its customer base beyond North America and Europe.
Company: Synchtank Limited
Raised: $5.8M
Round: Series A
Funding Month: November 2021
Lead Investors: Octopus Ventures
Additional Investors:
Company Website: https://www.synchtank.com/
Software Category: Cloud-based SaaS solutions for managing digital entertainment assets, rights, metadata, and royalties.
About the Company: Synchtank is a Software as a Service (SaaS) platform for rights owners and rights users to manage their assets, IP, metadata, and royalties. Run as a subscription service without commissions or CAPEX, Synchtank is highly flexible and tuned for each client. Synchtank’s diverse range of clients includes ABKCO, British Telecom TV and Sport, CD Baby, Disney, The National Education Network, peermusic, Sony, Unilever, Universal, Vice Media, WarnerMedia, and Warner Music, and Warner/Chappell Production Music. The firm has offices in London and New York with a network of partners across the US and Asia.
Source: https://www.musicbusinessworldwide.com/synchtank-raises-5-8m-in-series-a-funding-round-led-by-octopus-ventures/