Independent music services company Kobalt Music has announced Bill Maris has joined the company's Board of Directors. The company also announced that the prominent venture capitalist’s new fund, Section 32, has led a $14 million second installment into Kobalt’s recent Series D round of growth capital, bringing the total amount to $89M.
The royalty collection business has been stuck in the dark ages, and artists often have to wait for months or years to get paid for use of their work – if they get paid at all. Kobalt is the only company to have created a full multi-rights content management system to fix this broken business model, and I couldn't be happier to join the board and invest again in Willard and the team at Kobalt.
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