Starchive (formerly known as Digital ReLab, LLC), a Charlottesville, Va.-based digital-asset-management platform built for creators, raised $4M in seed financing.
The round, which brought total funding raised to date to $5.7M, Starchive’s seed round was led by The Felton Group, LLC, the family office of hedge fund manager, Jaffray Woodriff, who founded Quantitative Investment Management (QIM) in 2003. Investors also include Lexa Pope, who joined Google as employee #152 to build from scratch the team responsible for taking AdWords to market, and who later did the same for Facebook.
Founded in 2015 and led by CEO Richard Averitt, Starchive provides a digital-asset-management platform for creators which currently supports a roster of artists and archives who use its product as the center of their digital operations, from storage to distribution. Integrating blockchain solutions for NFTs and Web3, Starchive supports a community of creators who are composing, sharing, and remixing content for monetization across Web3 marketplaces, Web3 domains and the metaverse.
Today, the platform has over 15 million individual digital assets under management, and its client list features iconic creators including Bob Dylan, Carly Simon, Leonard Cohen, New Orleans Jazz Fest, Essence Magazine, The Property Brothers and tens of thousands of individual creators on TikTok, Instagram, and YouTube.
The company, which is gearing up for a Series A, set to conclude in early 2022, has attracted a list of active advisors including:
- Rishi Jaitly, the Founding CEO of Times Bridge and a former Google, Knight Foundation and Twitter Vice President;
- Shailesh Rao, investor/advisor to several Unicorns around the world after being a senior executive at both Google and Twitter and a Partner at TPG.