Duetti, a catalog acquisition company that works with independent artists, announced that it has secured $200 million in new funding to “accelerate music catalog acquisitions and expand its technology and services globally,” according to the announcement. The financing is led by a $50 million Series C equity investment by Raine Partners, alongside a second $125 million private securitization and a $25 million increase of an existing credit facility.
Over the past three years, the company has raised over $635 million, including over $100 million in equity, and has partnered with more than 1,100 artists, songwriters, and other music creators to purchase and manage portions of their music rights catalogs.
According to the announcement, the funds will be used to expand Duetti’s technology infrastructure, enhance marketing services, and grow its global presence. The company says it is currently signing more than 80 deals each month and expanding into publishing rights, in addition to master recording rights. The company also provides marketing and catalog management services. In connection with the equity financing, Joe Puthenveetil, Partner at The Raine Group, will join the Duetti Board of Directors.
“The traditional music industry and the financially driven catalog buyout funds are not able to keep pace and adapt their infrastructure to the explosive growth of the independent music sector,” said Lior Tibon, CEO and Co-Founder of Duetti. “This new funding allows us to continue building proprietary databases and systems to identify, predict, and effectively manage and support music catalogs of independent creators, the fastest growing and most exciting segment of the industry.”
“We are excited to partner with Lior and team as they develop a next-generation music company that empowers independent creators. Duetti has democratized the industry by enabling artists at every stage of their careers to monetize their rights and access the marketing and growth resources offered by a modern label and publisher,” said Joe Puthenveetil and Fred Davis, partners at The Raine Group.