Launched in 2007, the New York-based company helps online music services, record companies, distributors and artists properly license and remain compliant with a complex array of U.S. copyright obligations while ensuring payment for rights-holders.
The completion of the financing will allow RightsFlow to expand their robust worldwide data and licensing network as well as develop additional products and services.
In a statement pubblished on the company’s website, Patrick Sullivan, cofounder, President and CEO of RightsFlow was reported as saying: “As distribution methods for music have changed the legal obligations to comply with U.S. copyright laws have gotten even more complex.
“We believe that creators should be paid for the use of their work and recognize that in a digital era many businesses are either unaware of the copyright regulations or find them to be a costly burden. The service we have pioneered creates a single, cost-effective channel through which rights-holders and companies that sell or distribute music can connect, ensuring proper licensing, accurate accounting and timely payment of royalties”.