Investments, Portfolio

Investment Update: Kobalt Music raises $75m

MAY 09, 2017

We are excited to share the news that Kobalt Music today announced it has raised $75 million in growth capital. The Series D round was led by Hearst Entertainment, and we are delighted to participate alongside MSD Capital. We initially invested in Kobalt in 2008, and the progress the company has made is outstanding. Willard and the Kobalt team have scaled the company to become a global industry leader. They have transformed the way the music industry thinks about royalty collections and the level of service available to all rights-holders. We look forward to continuing to work with Willard, and are delighted that Hearst has joined the team.

Willard Ahdritz, founder and CEO, Kobalt Music

From the start, my vision for Kobalt has been to transform the music industry and help take it into the digital age.

Willard Ahdritz, founder and CEO, Kobalt Music

Willard Ahdritz said: “From the start, my vision for Kobalt has been to transform the music industry and help take it into the digital age. With the high growth of streaming and the billions of microtransactions that take place per song, the music industry is more complex than ever. Guided by core principles of transparency, technology, and putting creators first, I have never been more sure that our platform, combined with our global creative team, is the right one to serve creators and rights owners in the rapidly evolving digital music environment.” We are looking forward to continuing to work with Willard and the team. You can read the full announcement, and coverage of the news in Variety.com.