FUGA and Fintage House contribute to Verify Media's $4 million financing round

By Emmanuel Legrand

Rights data management company Verifi Media has completed a $4 million funding round, led by Downtown Holdings-owned full-service B2B music distribution company FUGA; global music, film, and TV rights company Fintage House; and QVT Family Office Fund LP.

  "By participating in the round, these key media and finance companies demonstrate a strategic commitment to modernising rights management tools, while jointly developing key modernized services to allow efficient data sharing across rights owners and users," said Verifi in a statement. 

  Verify, which has offices in London and New York, will allocate the funding towards "accelerating its client relationships, further building out its wide range of services, and enriching the capabilities of its data solutions for all parties in the media value chain." 

Modernising rights data

  Verifi uses tools such as enterprise blockchain, cloud computing, AI, data scoring, media watermarking, to provide rights holders with solutions for managing ownership data over time.

  “Having major global media companies make a significant investment in Verifi strongly validates our data services, execution-driven philosophy, and approach to modernising rights data for the music industry," said Verifi CEO Ken Umezaki. "We are extremely grateful for the ongoing support of FUGA, as both client and investor, as we build our music business services."

  Added Umezaki: "The addition of Fintage House as a strategic partner provides us the opportunity to work with a world-class media company to expand our reach beyond music. In addition, as strategic financial partner, QVT provides Verifi with financial market insight and strategic business guidance as we accelerate the growth of our business.”

Provide best tools

  FUGA CEO Pieter van Rijn said backing Verifi, which already provides data solutions and services to FUGA, was a natural step. “The decision to back our partner Verifi Media in its most recent funding round reflects our faith in Verifi’s team of experts to provide the best tools and dynamic data solutions for music industry players," said van Rijn. "We’re excited to support Verifi Media’s future work and its continued mission to foster a more transparent and efficient data rights ecosystem, both for our clients and the global music rights business as a whole."

  The investment from Netherlands-based Fintage House, according to co-CEO Niels Teves, recognises "the importance of Verifi’s solutions to increase the ease and efficiency for obtaining accurate metadata for licensing, royalty payments, administration and catalogue, and library management purposes."