Kobalt Music raises $75M from Hearst
Kobalt Music Group, which has built a technology platform that helps artists, publishers and labels collect royalties for their music, announced on Monday that it has raised $75 million from Hearst Entertainment. The company’s technology provides stakeholders with insights into how their music is consumed across the world and how that activity is translating into income, helping them discover new opportunities for monetization. [Forbes]
Lemonade launches in California
Lemonade, which uses chatbot technology and advanced game theory to shake up the insurance industry, just launched its renters and homeowners insurance products in California. Counting behavioral economist Dan Ariely among its co-founders, the B-Corp takes a fixed fee out of the consumer’s monthly payments and donates whatever’s left over after claims have been filed to a charity of the customer’s choice. By aligning its interests with that of the consumer, the company hopes to foster a less adversarial relationship between itself and its customers. [VentureBeat]
Cockroach Labs brings in $27M Series B
Open-source database service provider Cockroach Labs announced on Wednesday that it has closed a $27 million Series B round of funding led by Redpoint. GV, Benchmark, Index Ventures and FirstMark also participated in the round. Named after the notoriously hard-to-kill insect, Cockroach Labs maintains a distributed architecture that protects users from attacks and other unforeseen events. [TechCrunch]
Latch locks in $10M Series A
Latch, a New York-based IoT startup that makes smart locks for the enterprise market, announced on Wednesday that it has raised a $10 million Series A round of funding, bringing its total funding to $26 million according to TechCrunch. The company told the publication that it will use the funding to expand its sales team, and fuel growth in markets like Miami, FL and Los Angeles, CA, as well as in New York City. [TechCrunch]
SimpleReach lands $9M round, announces leadership change
SimpleReach, a New York-based data startup that helps publishers identify and replicate their best-performing content and distribution strategies, announced on Monday that it has raised a $9 million round of funding. Alongside the funding, SimpleReach also announced that Hal Muchnick will become the company’s new CEO. [Fortune]
Irish gambling company buys NY-based fantasy sports startup
Draft, a New York-based fantasy sports startup, has been acquired by Dublin-based gambling operator Paddy Power Betfair. The acquisition, announced on Wednesday, will help the Irish gambling company establish a foothold in the American fantasy league market, according to Crain’s. Paddy Power Betfair paid $19 million in cash for the startup, but the total acquisition amount can grow to as much as $48 million, depending on performance. [Forbes]
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