Collab Capital Announces investment in Music Tech Works
Firm invests in the future of music licensing;
Media executive Tirrell D. Whittley joins as Growth Partner
December 10, 2020 - Atlanta, GA - Collab Capital, an early-stage investment fund focused on start-ups by Black founders, has invested in music licensing platform Music Tech Works. The investment marks the second deal from the fund as part of its mission to shrink the racial wealth gap in the U.S.
Collab Capital announced their plans to build the largest fund for Black founders in June. By providing these founders with the economic capital and access to professionals in their respective business verticals, Collab Capital is focused on establishing sustainable Black businesses by investing in tech, tech-enabled and innovative companies. Music Tech Works (MTW), founded by music/media industry veterans Jarrett Hines and Bryson Nobles, is the latest addition to the firm’s portfolio.
“For two years, we have witnessed Music Tech Works growth from an idea to a product; and today we are ecstatic to become an investor to further build out their vision,” says Barry Givens, General Partner of Collab Capital. “They are tackling a very specific problem for a large evergreen market by replacing antiquated processes with an easy-to-use software solution.”
With more than 60 million songs, MTW has one of the largest rights holder databases in the world. The first product from Music Tech Works, rightsholder.io, is a music copyright research platform with an expansive library that connects those who want to license music with the rights holders that can grant them a license. The investment from Collab Capital will allow the founders to continue to grow their database, expand their team and onboard their initial customers. rightsholder.io gives a clear and complete searchable picture for publishing and master recording ownership information, all while combining enterprise-level features and consumer-level usability. In addition to ownership data, users can quickly identify past use data from shows, movies and brands that have previously licensed a track as well as sample audio for each track in the database. The product goal is to simplify the process of licensing for commercial music across TV, film, video games and advertising. This is valuable to TV, film, ad agencies, and video game production companies who spend a significant amount of time and resources searching rights to songs for use in commercial productions.
Music Tech Works co-founders Jarrett Hines and Bryson Nobles said, "The continued support of Collab Capital is something we are excited to have. Solving this problem requires a lot of smart, committed people and that is exactly what we have in the Collab Capital team and their partners.”
Collab Capital’s innovative investment model will support businesses through financial investment and social capital, bringing notable growth partners from various sectors to each company they fund. These partners bring industry knowledge, a growth mindset, expertise, and networks that can ultimately drive scalability. As part of their Music Tech Works investment, Collab Capital has partnered with media and marketing executive Tirrell D. Whittley, CEO and founder of LIQUID SOUL, a premier multicultural agency.
Whittley will serve as a resource, mentor, and advisor for MTW. As a growth partner, he will work with the team to identify transformational partnerships, talent, and potential customers from the entertainment industry.
“The music and content media industries are constantly evolving due to the rapid rise of streaming and the unfortunate impacts of COVID-19,” said Whittley. “Content creators are aggressively moving to deliver fresh and much-needed products for the marketplace. Efficiency is paramount, and Jarrett and Bryson are delivering timely solutions starting with their music licensing platform. I’m happy to partner with Music Tech Works and Collab Capital on this dynamic venture. Collab Capital’s unique model of instituting a growth partner is a perfect opportunity for me to assist MTW in achieving their tech and business goals.”
This summer, Collab Capital announced its first investment in Black-founded beauty brand Hairbrella. With the firm’s financial support, Hairbrella produced the Hairbrella Pro - a new iteration of its rain hat designed specifically to protect essential workers during the pandemic.
Collab Capital’s limited partners include hip hop artist Lecrae and Kapor Capital.
About Collab Capital
Based in Atlanta, Collab Capital is a new capital investment solution focused on early-stage investments in tech and tech-enabled companies led by Black founders. Through efficient capital and effective connections, Collab Capital brings a fresh perspective to solve unique challenges experienced by Black entrepreneurs. Collab Capital supports its portfolio founders by creating a viable pathway to sustained wealth for the Black community through investment, innovative solutions, expertise and social capital.
About Music Tech Works
Music Tech Works creates insanely simple tools to facilitate music licenses. Founded by music tech entrepreneurs Jarrett Hines and Bryson Nobles, the company's focus is to grow the music sync market by organizing who owns the rights to what music and simplifying the process of acquiring a license for that music. Music Tech Works’ first product, rightsholder.io, is a music copyright research platform with a database of more than 60 million songs that provide detailed ownership information, past use data and connects those who want to license music with the rights holders that can grant them a license.
For Collab Capital, contact:
Paris Tyler/ Vibrant Communications
773.301.1197 / firstname.lastname@example.org
For Music Tech Works, contact:
Laurie Jakobsen / Jaybird Communications
917.697.2274 / email@example.com
Tracy Zamot / Jaybird Communications
917.579.6704 / firstname.lastname@example.org