Connect Music Raises $80M for Artist Financing and Catalog Purchases

Memphis-based music monetization company Connect Music has closed an $80 million funding round, led by Rockmont Partners and Portland’s Variant Investments.

Why it matters:

• Connect says it will use the capital to fund catalog acquisitions and expand its music licensing operations as it scales technology aimed at independent artists and labels, as per Music Business Worldwide (MBW).

• The company uses “proprietary AI models to help artists monetize and protect their intellectual property across streaming platforms and other channels.”

Backstory:

• Connect was founded in 2020 by President and CEO George Monger.

• It offers distribution, publishing administration, promotion and financing to creators, as well as sophisticated data analytics typically reserved for major labels.

• Its roster includes GRAMMY-nominated producer duo Mike & Keys, and artists Sauce Walka, Don Trip, Boosie Badazz and Nless Entertainment/BIG30.

Competition:

• As MBW points out, this investment comes at a time when artists looking to avoid the major label system are increasingly seeking alternative financing options.

• To that end, Pipeline recently launched with $200 million in capital to help independent companies “unlock the value of their intellectual property”; beatBread has deployed over $100 million across 1,700 funding agreements since 2020.

What they said:

• George Monger: “This investment represents transformational growth capital for Connect Music and the artist partners we serve. It gives us the ability to grow aggressively while staying true to our mission: empowering creators to maximize their earnings while owning their art, their data, and their future.”