Brainbase,the legal rights management system that is helping Hollywood studios regulate the licensing rights to their cultural icons, has picked up an additional $8 million in financing.
Behind each individual well known story is an endeavor to make cash off of it, and Brainbase can help Hollywood obtain new methods to make revenue off of buyer tastes.
The dollars came from new traders Bessemer Venture Partnersand Nosara Funds, with participation from earlier investors Alpha Edison, Struck Cash, Bonfire Ventures and FJ Labs. Person investors involve Spencer Lazar, Michael Stoppelman (the previous senior vice president of engineering at Yelp), Jenny Fleiss (co-founder of Rent the Runway) and David Fraga (president of InVision).
The Los Angeles-dependent enterprise reported the new money would be used to develop a payments characteristic to velocity up the approach of wringing payments from licensees and to go on setting up its Market product or service that connects famous people, athletes and social media stars of all stripes with new and emerging makes.
“We need to continue to be targeted on building the best platform for brands that individual and license their IP,” stated Brainbase co-founder and CEO Nate Cavanaugh, in a assertion. “With a solid bench of buyers and advisors who think in our vision to make the intellectual assets sector more open, efficient and available, we are geared up for our subsequent stage of expansion. In 2020, Brainbase options to virtually double in dimensions, producing important hires across revenue, products, and engineering in the U.S. and Europe.”
The new funding will come as Brainbase brings new makes and spokespeople into the fold, like BuzzFeed, the design-turned-shopping community superstar and brand name ambassador extraordinaire Kathy Ireland, MDR Model Administration and Bonnier. These new branding megaliths be a part of a roster that incorporates Sanrio, the owner of the ubiquitous Hi Kitty character.
“Brainbase is bringing the archaic, paper shuffling world of IP management into the 21st century. We’re thrilled to lover with this team as they support entrepreneurs of IP belongings capture more price even though saving a boatload of time and effort,” mentioned Kent Bennett, associate at Bessemer Enterprise Companions.