Memphis-based Connect Music, a music rights and technology firm, has successfully raised USD $80 million in a funding round led by Rockmont Partners and Variant Investments. This capital will be directed towards catalog acquisitions and the enhancement of the company�s music licensing operations, as it seeks to scale its technology solutions tailored for independent artists and labels.
Founded in 2020 by George Monger, Connect Music aims to provide creators with access to financing and data analytics that are typically only available through major labels. The firm utilizes proprietary AI models to assist artists in monetizing and protecting their intellectual property across various streaming platforms and other channels. In 2022, Connect Music launched a $10 million fund dedicated to supporting independent artists and completed the acquisition of MTX Music, a London-based artist and label services provider.
The recent investment reflects a growing trend in the industry, as independent artists increasingly pursue alternatives to traditional major label financing. This follows similar movements in the market, such as the emergence of the Pipeline financing platform, which raised over $200 million, and beatBread, which has provided over $100 million across 1,700 funding agreements since its inception. The investment landscape for independent music companies continues to expand, with Duetti also securing $200 million in fresh financing earlier this year.
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