Kobalt signs up Hearst for $75m series D

May 9, 2017 • Robert Lavine

Hearst Entertainment has led a round that valued GV-backed music royalty collections platform Kobalt at $775m post-money.

Hearst Entertainment, a division of media group Hearst, led a $75m series D round for US-based music services provider Kobalt Music yesterday that valued it at $775m post-money, according to TechCrunch.

The round also featured venture capital firm Balderton Capital and MSD Capital, the investment vehicle for Michael Dell, founder of computing company Dell.

Founded in 2000, Kobalt operates a royalty collections platform covering record sales, music publishing and international neighbouring rights, as well as a networking service that connects…

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