Stem, a Los Angeles, Calif.-based financial platform for musicians and content creators, raised $8m in Series A funding.
The round was co-led by Evolution Media and Aspect Ventures with participation from Upfront Ventures.
Led by CEO Milana Rabkin, President Tim Luckow, and Head of Product Jovin Cronin Wilesmith, Stem tracks and organizes all of an artist’s revenue streams, giving a clear picture of earnings at all times.
The platform works directly with YouTube, Spotify, SoundCloud, Apple Music, iTunes, Pandora, Tidal, Google Play, Amazon, Deezer and Saavn to manage content for users. With Stem, users create an account, upload music or videos, select platforms, tell who worked on it, and enter in metadata. Stem then collects revenue and show it to users and each shareholder (producers, songwriters, videographers, performers, editors, etc.) in the dashboard. Each month, they will transfer earnings to the user’s Paypal account.