Qwire, the Music-for-Picture Licensing and Cue Sheet Reporting Software Firm, Receives $2M+ in Funding

Qwire (qwire.com), creator of SaaS software to streamline royalty reporting and licensing for music-for-picture, has received over $2 million in additional funding from current and new investors. This will expand the New York and Los Angeles-based company’s sales efforts and accelerate development and enhancement of its cue sheet reporting tools.

“This new investment demonstrates investors’ confidence in Qwire and in our software’s ability to transform music post production and royalty reporting,” said founder and CEO Scott Freiman. “This funding will allow us to take the company to the next level, as we continue to license qwireClear to major film/TV studios, and we bring our next-generation cue sheet management and reporting software – qwireCue – to market.”

Jerry Labowitz, former Director of Equities Research for the Americas for Merrill Lynch, agreed: “Qwire is seeing interest from a large and growing range of companies in the music-for-media business. I was happy to participate in the growth of this innovative company and their transformative software tools.”

Some features of this platform innovating program:

DASHBOARD

Sort and constrain cue sheets by project (e.g. film, TV series), air date, status, assignee, and more. Find any cue by song name, writer, or publisher. Assign cue sheets to specific users or even other studios. Customize dashboard with real-time reports.

CUE SHEET CREATION

Create a cue sheet from almost any spreadsheet format. Easily create cue sheets for new episodes of a TV series. Duplicate cue sheets to create new versions for alternate territories.

CUE SHEET EDITING

Easily add, edit, and delete cues. Create writer/publisher “favorites” and assign them to multiple cues with a single click. Add video and jump to specific timecode when clicking on a cue. Rearrange cues. Find and replace cue sheet information within a single cue sheet or across multiple cue sheets.

INTEGRATION WITH QWIRETRACKS

Search for a song in QwireTracks, Qwire’s music rights and metadata database, and instantly add it to a cue sheet. Retrieve master, sync, and writer information along with PRO affiliations and splits. View album art, lyrics, ISWC codes, and more (when available).

CUE SHEET SUBMISSION

Submit cue sheets electronically to supported PROs. Send PDFS or spreadsheets to non-supported PROs. Send copies of cue sheets to publishers or other interested parties.

REPORTING

Choose from numerous real-time reports to generate, print, or export. Specify date ranges, filters, and sorting criteria. Analyze cues and cue sheets, PRO market share, songs by publisher or writer, cue sheet elapsed time, and much more.

SECURITY AND AUDITING

Create user roles to grant or deny access to every features in the application. Integrates with studio-accepted single-sign on systems. Audit logs can be easily reviewed by authorized administrators. Time-, date-, user-, and IP-stamping of every activity. Adheres to MPAA best practices.

TECHNOLOGY

qwireCue is hosted by Amazon Web Services. The application works with all modern browsers on Macs and PCs.

qwireClear

The most advanced solution for music clearance and licensing

qwireClear puts everything you need to clear and license music at your fingertips, giving you instant access to rights information, budgets, and clearance status while streamlining and automating letter generation and reporting.

About Qwire:

Qwire creates collaborative, cloud-based software that addresses significant problems with music licensing and royalty reporting common to companies working with music-for-picture, including some of the largest media companies in the world — film/TV studios, trailer houses, video game development companies, advertising agencies, and professional sports networks — as well as rights holders (e.g. music labels and music publishers) and Performance Rights Organizations.

For more information, visit www.qwire.com.


This week in NYC funding news: Keeps, Coord, Qwire, Red Rabbit

Qwire, the SaaS company aiming to transform music for picture, has added two highly experienced media executives and thinkers to its Board of Directors, Joy Marcus and Howard Appelbaum.

Joy Marcus is a Venture Partner at Jerusalem Venture Partners (JVP) where she focuses on digital media and commerce. She has served as a VP of International Business Development at MTV, SVP at Time Warner, GM for North America at Daily Motion, and EVP, GM of Digital Video at Condé Nast. Joy teaches entrepreneurship at Princeton University, beginning in 2014 as a James Wei Visiting Professor. In 2014, Joy received a Women of Power and Influence Award from the National Organization for Women (NOW).

"Qwire is set to be an industry leader in transforming music-for-media to the benefit of all parties — production studios, writers/composers, music publishers, and Performance Rights Organizations," says Marcus. "I am very excited to be part of this adventure as a member of Qwire's Board."

Since 2011, Howard Appelbaum has been President of Nielsen Entertainment, where he led Nielsen's portfolio of entertainment information, data, and insight products serving the Music, Games, Book, Home Entertainment and Sports industries. Prior to his current role, Howard worked at Billboard first as Vice President of Marketing and ultimately serving as President. Before that, Howard held roles as VP of Licensing, VP of Events and COO of Nielsen Business Media as well as President of Brand and Business Development for Prometheus Global Media where he supported Billboard, The Hollywood Reporter, Adweek and a portfolio of trade shows.

"It is exciting to join the board of Qwire," agrees Appelbaum. "The team is top-notch and they are creating solutions to real problems for music licensing and royalty reporting that streamline processes resulting in important efficiencies and faster, more accurate accounting."

Founded by film and TV composers, Qwire's software products increase productivity for music for picture teams, freeing them to do more of the creative work they love. "We are extremely excited to add Joy and Howard to our Qwire Board," says CEO Scott Freiman. "Both Joy and Howard add many years of experience in business, strategy, music, and media that will be a great help to us as Qwire builds its business."

After a funding round earlier this year, Qwire is currently building its next product, qwireCue, to automate the cue sheet and reporting process. This new product will complement Qwire's first product, qwireClear, Qwire's advanced management tool for music clearance and licensing.


NYC Tech Deals Roundup - Acquisitions and Funding News (October 12 - October 19)

Handy acquired by ANGI Homeservices

ANGI Homeservices, the parent company of Angie's List's and HomeAdvisor, is acquiring Handy, a New York-based home services marketplace that had raised over $110 million from firms like Fidelity, TPG Growth, Revolution, Highland Capital Partners, and General Catalyst.

Funding

SevenRooms receives investment from Amazon Alexa Fund Amazon has invested in SevenRooms, a New York-based hospitality startup that specializes in restaurant software. The investment is Amazon's first into a company that runs restaurant operations.

Investors: Amazon Alexa Fund

SevenRooms is now hiring! Check out their BIZZpage

Spotify makes a minority stake in DistroKid Spotify has taken a stake in DistroKid, a distribution service that allows recording artists to upload music across online stores and streaming platforms including Spotify’s biggest rival, Apple Music.

Spotify is now hiring! Check out their BIZZpage

Coord raises $5M in a Series A round

Coord is a New York-based mobility data platform.

Investors: Alliance Ventures, Trucks, Urban.Us, and DB Digital Ventures

June.ai closes its seed round with $1.5M raised

June.ai is an email management platform .

Investors: John Suh, CEO of LegalZoom and Marc Michel of Runaway Venture Partners

Qwire raises $2M in an additional round

Qwire is a New York-based creator of SaaS software to streamline royalty reporting and licensing for music-for-picture.

Investors: N/A

Chief raises $3M in funding Chief raised $3 million to launch a private network for women executives at the VP level and above. The network, for now, based in New York, aims to keep women on track to the top instead of seeing them drop off before breaking the final glass ceiling.

Investors: N/A

Paperspace raises $13M in a Series A round Paperspace is a cloud computing and machine learning development platform.

Investors: Battery Ventures, SineWave Ventures, Intel Capital and Sorenson Ventures and Initialized Capital

WhiteSource raises $35M in additional funding WhiteSource is a New York, Boston and Tel Aviv, Israel-based provider of open source security management solutions.

Investors: Susquehanna Growth Equity, 83North, and M12 – Microsoft Ventures

ConveyIQ raises $5.5M in funding ConveyIQ is a New York City-based provider of enterprise talent communication and recruiting automation software.

Investors: SC Ventures, 3TS Capital Partners, and StarVest Partners

Fourpost raises $5M in seed funding Fourpost is a New York-based startup that curates retail and dining spaces inside malls.

Investors: Social Capital, Susa Ventures, Collaborative Ventures, Blumberg Capital, Ludlow Ventures, Supernode Ventures, T5 Capital, Accelerator Ventures and Hersz Capital

Crux Informatics closes its Series B round with $20M raised Crux Informatics is a New York-based data engineering and information supply chain startup.

Investors: Two Sigma, Goldman Sachs, and Citigroup

Hero closes its Series A round with $12M raised Hero is a New York-based startup focused on medication management and adherence.

Investors: Brainchild Holdings, Naval Ravikant, Box Group, Third Kind Venture Capital, Refactor Capital and Spider Capital

FundGuard raises $4M FundGuard is a New York-based AI platform for investment funds .

Investors: Blumberg Capital and LionBird


Qwire Receives $2M+ in Funding

Qwire (qwire.com), creator of SaaS software to streamline royalty reporting and licensing for music-for-picture, has received over $2 million in additional funding from current and new investors. This will expand the New York and Los Angeles-based company’s sales efforts and accelerate development and enhancement of its cue sheet reporting tools.

“This new investment demonstrates investors’ confidence in Qwire and in our software’s ability to transform music post production and royalty reporting,” said founder and CEO Scott Freiman. “This funding will allow us to take the company to the next level, as we continue to license qwireClear to major film/TV studios, and we bring our next-generation cue sheet management and reporting software – qwireCue – to market.”

Jerry Labowitz, former Director of Equities Research for the Americas for Merrill Lynch, agreed: “Qwire is seeing interest from a large and growing range of companies in the music-for-media business. I was happy to participate in the growth of this innovative company and their transformative software tools.”


Qwire - the music-for-picture licensing and cue sheet reporting software firm, receives $2M+ in funding

Qwire (qwire.com), creator of SaaS software to streamline royalty reporting and licensing for music-for-picture has received over $2 million in additional funding from current and new investors. This will expand the New York and Los Angeles-based company’s sales efforts and accelerate development and enhancement of its cue sheet reporting tools.

“This new investment demonstrates investors’ confidence in Qwire and in our software’s ability to transform music post production and royalty reporting,” said Qwire founder and CEO Scott Freiman. “This funding will allow us to take the company to the next level, as we continue to license qwireClear to major film/TV studios, and we bring our next-generation cue sheet management and reporting software – qwireCue – to market,” he added.

Jerry Labowitz, former Director of Equities Research for the Americas for Merrill Lynch, agreed, "Qwire is seeing interest from a large and growing range of companies in the music-for-media business. I was happy to participate in the growth of this innovative company and their transformative software tools.”

Qwire creates collaborative, cloud-based software that addresses significant problems with music licensing and royalty reporting common to companies working with music-for-picture, including some of the largest media companies in the world — film/TV studios, trailer houses, video game development companies, advertising agencies, and professional sports networks — as well as rights holders (e.g. music labels and music publishers) and Performance Rights Organizations.


Qwire, the music-for-picture licensing and cue sheet reporting software firm, receives $2m+ in funding

Qwire (qwire.com), creator of SaaS software to streamline royalty reporting and licensing for music-for-picture, has received over $2 million in additional funding from current and new investors. This will expand the New York and Los Angeles-based company's sales efforts and accelerate development and enhancement of its cue sheet reporting tools.

"This new investment demonstrates investors' confidence in Qwire and in our software's ability to transform music post production and royalty reporting," said founder and CEO Scott Freiman. "This funding will allow us to take the company to the next level, as we continue to license qwireClear to major film/TV studios, and we bring our next-generation cue sheet management and reporting software – qwireCue – to market."

Jerry Labowitz, former Director of Equities Research for the Americas for Merrill Lynch, agreed: "Qwire is seeing interest from a large and growing range of companies in the music-for-media business. I was happy to participate in the growth of this innovative company and their transformative software tools."

About Qwire:

Qwire creates collaborative, cloud-based software that addresses significant problems with music licensing and royalty reporting common to companies working with music-for-picture, including some of the largest media companies in the world — film/TV studios, trailer houses, video game development companies, advertising agencies, and professional sports networks — as well as rights holders (e.g. music labels and music publishers) and Performance Rights Organizations.


Term Sheet -- Monday, October 15

Good morning, Term Sheet readers.

My colleague Shawn Tully confirmed that Coinbase veteran Adam White is joining the newly-launched cryptocurrency venture Bakkt as its chief operating officer.

White was part of the so-called “Coinbase Mafia” — he joined the startup as the fifth employee and helped build it up into a crypto-colossus with 25 million customers. For the last 18 months, White was the chief of its institutional products and regulatory arm.

“In 2017, I saw a big shift,” he told Fortune. “The interest in Bitcoin and other currencies started changing from retail to the institutional side. But the level of infrastructure of the existing trading sites often didn’t meet their expectations. That’s why they’re waiting on the sidelines.”

The big banks, he says, needed exchanges that provided the safety they required for trading equities, bonds or gold. “That’s why I joined Bakkt,” says White.

Bakkt has deep ties to Wall Street’s institutional investing titans and it’s pitching itself as the venture with an inside track at bringing Bitcoin mutual funds and ETFs to America’s 401(k)s.

Institutional money is crucial to the success of the crypto market, so it’s only natural that both Bakkt and Coinbase are gearing up to provide what Wall Street craves: Trading on federally regulated exchanges, as well as clearing, and custody of services for digital assets on par with the safeguards that now protect transactions for the major money managers.

Tully writes, “If Bakkt delivers and big Wall Street begin trade cryptocurrencies with the same ease, safety, and scale as stocks, bonds and traditional commodities, it could be a tremendous forward leap in the evolution of cryptocurrencies.”

You can read Fortune’s recent profile on Bakkt here & the September feature on Coinbase here.

THE SAUDI RIPPLE EFFECT: SoftBank’s share price dropped more than 7% Monday, and it is likely connected to the Jamal Khashoggi disappearance scandal. Analysts claim there are two reasons: the general pullback from tech, and SoftBank’s deep ties with the Saudis. The kingdom provided nearly half the money for SoftBank’s $93 billion tech-focused investment fund, which has backed U.S.-based companies like Uber, WeWork, and Slack.

It’s interesting to consider what this may mean for Masayoshi Son as so much of his fate lies in the hands of Saudi Crown Prince Mohammed bin Salman, who pledged $45 billion to his fund in 45 minutes. Just last week, bin Salman proudly announced that the country’s Public Investment Fund (PIF) plans to pour another $45 billion into SoftBank’s second Vision Fund.

As Bloomberg notes, “Not only are those commitments now in question, but SoftBank could face a revolt in Silicon Valley if entrepreneurs begin to think taking its cash is akin to blood money.”

Jeff Kingston, a professor at Temple University in Tokyo, told Bloomberg that “Son is going to find a chillier welcome in Silicon Valley. The whole ethos of these young venture capitalists is they want to make the world a better place. That’s hard to reconcile with the vision of darkness that Saudi Arabia is projecting.”

So does that mean the scandal could freeze Softbank out of future deals? Will it have an impact on future Vision funds? Will Son’s reputation take a hit?

For now, Softbank has declined to comment to various media outlets on the Saudi scandal, but I, along with all of Silicon Valley, will be keeping a close eye on Masa’s response and handling of the situation. It’s a critical moment for the prolific investor and the ambitious, do-good companies he has helped fund.

FORTUNE GLOBAL FORUM: Fortune’s Global Forum convenes today in Toronto, Canada. The Forum creates a valuable opportunity for the CEOs of the world’s biggest multinational companies—the Fortune Global 500—to actively engage with Canada and its leaders from both business and government. You can see the full agenda and watch the livestream here.

VENTURE DEALS

• Kepler Communications, a Canada-based satellite telecommunications company, raised $16 million in Series A funding. Costanoa Ventures led the round, and was joined by investors including Deutsche Bahn’s (DB) Digital Ventures and IA Ventures.

• Coord, a New York-based mobility data platform, raised $5 million in Series A funding. Alliance Ventures led the round.

• Qwire, a New York-based creator of SaaS software to streamline royalty reporting and licensing for music-for-picture, raised more than $2 million in funding from. The investors were not named.

• Yoho, a China-based streetwear platform, raised “tens of millions” of dollars in funding. C Ventures led the round.

HEALTH AND LIFE SCIENCES DEALS

• Berkeley Lights, Inc, an Emeryville, Calif.-based company focused on digital cell biology, raised $95 million in funding. Nikon led the round, and was joined by investors including Walden-Riverwood Ventures, Sequoia Capital, Black Diamond Ventures, Paxion Capital, Cota Capital, KTB Network, Atinum Investment, Shangbay Capital, AJS BioTree Healthcare Fund, and Varian.

PRIVATE EQUITY DEALS

• The Carlyle Group agreed to acquire Apollo Aviation Group, a global commercial aviation investment and servicing firm. Financial terms weren’t disclosed.

• Spectrum Equity acquired a majority of AllTrails, a San Francisco-based provider of a digital guide to the outdoors. Financial terms weren’t disclosed.

• EagleTree Capital acquired a majority stake in Gaylord Chemical Company, a Slidell, La.-based specialty chemical production company.

• Serent Capital acquired Real Green, a software and marketing provider primarily serving the lawn care and landscaping industries. Financial terms weren’t disclosed.

• WebMD Health Corp, which is owned by Internet Brands, acquired MediQuality, a Belgium-based provider of medical news and information for healthcare professionals in the Benelux market. Financial terms weren’t disclosed.

• Trive Capital and Five Crowns Capital recapitalized Picture Head, a Los Angeles-based provider of critical post-production content editing, finishing and storage services for media studios. Financial terms weren’t disclosed.

• Endless acquired American Golf, a European golf retailer. Financial terms weren’t disclosed.

OTHER DEALS

• Sears Holdings Corp (Nasdaq: SHLD) filed for Chapter 11 bankruptcy on Monday with a plan to close 142 more stores. Read more at Fortune.

IPOs

• Innovent Biologics, a China-based biotech firm, is looking to raise up to $422 million in its Hong Kong IPO, according to Reuters. Innovent, which is backed by Fidelity and Temasek, set an indicative price range of HK$12.5-HK$14.00 ($1.59-$1.79) per share for its initial public offering, giving the company a valuation of about $2 billion. Read more.

EXITS

KKR acquired Minnesota Rubber and Plastics, a Minneapolis-based developer of molded plastic and molded rubber components, from Norwest Equity Partners. Financial terms weren’t disclosed.

FIRMS + FUNDS

• LFM Capital, a Nashville-based private equity firm, raised $184 million for its sophomore fund.

PEOPLE

• Jérôme Brassart will join Perella Weinberg Partners as a managing director.

• Bill Aliber and Brian Shin joined Providence Strategic Growth Capital Partners as managing directors.