Kobalt Music Group has reportedly raised $140 million for use towards its platform aiding musicians in publishing music and managing their copyrights. Announced investors in the round include Balderton Capital, which has invested in the company previously, MSD Capital and founding investor SPARK Ventures. A $25 million portion of the funding, contributed by MSD, was announced in March; that tranche constituted an almost 10% stake in the company.
Kobalt has developed a centralized and automated administration service to manage copyrights and help musicians collect royalties. Its technology tracks song plays and compares data between its tracking system and third party data to identify any inconsistencies. Kobalt also offers establishment of neighboring rights and label services.