Tencent and its Tencent Music Entertainment unit are among the participants in the royalty attribution service provider’s latest round, four years after UMG and WMG provided seed funding.
US-based digital content licensing platform Pex has secured $57m in a round featuring internet group Tencent and its music streaming service subsidiary, Tencent Music Entertainment.
Amaranthine, Cue Ball Capital and NextGen Ventures Partners took part in the round, which included unnamed returning investors of which TechCrunch identified Susa Ventures and Illuminate Ventures.
Founded in 2014, Pex has developed an online entertainment royalty attribution marketplace dubbed Attribution Engine. Rightsholders can register their audio and video recordings on the portal and set…
