Sentric Music Limited, a Liverpool, UK-based company that operates an online music royalty management and licensing service, has received an equity investment from the North West Fund for Digital & Creative, managed by AXM Venture Capital Limited.
The company intends to use the funding, whose amount was not disclosed, to invest in its online platform and expand its client management team to support its growth in overseas markets.
Founded in 2006 by CEO Chris Meehan and non-executive director Andy Davidson, Sentric offers a combination of music publishing services, for independent artists, established artists and catalogue owners, based on its online royalty collection and management platform.
Based in Elevator Studios in central Liverpool, the company supports its portfolio of bands to commercialize their music, including licensing them into television and other lucrative media.
It now acts for more than 12,000 bands, representing more than 65,000 tracks in the UK, US and in Continental Europe.