Google Ventures snaps up Kobalt

The European Arm of Google Ventures, based in London, with  £40m) ($60m) investment snapped up Kobalt  the largest independent music publisher in the world that empowers songwriters collect money from streaming services including Spotify and YouTube. Using their proprietary technology platform, tracking of  digital collections, Royalties and administration of copyrights.

The future of music is not grey but made simple. Kobalt’ sother investor s include its management team and  Balderton Capital, a venture capital firm. Bill Maris, google Ventures managing partner was influenced into investing in Kobalt by his songwriter friends. Bill founded Google Ventures in 2009 and Google for Entrepreneurs, which brings startup communities together with approximately $2 billion under management, 280 portfolio companies.

The rapid growth of both video and music streaming has made tracking royalties an administrative nightmare. Kobalt enables the power of digital work both ways, serving both consumers and creators.

Founded in 2000 by Swedish Willard Ahdritz, represents 5000 artists, song writers such as Sir Paul McCartney, Sony writers such as Foo fighters and 500 music publishing companies. Kobalt ensures all songs are fingerprinted to maximise collections.

Kobalt forecast are up by 40 per cent from last year to £169m ($260m) and revenue £20m ($30m).