TuneSat LLC Secures a $6 Million Funding Round Led by General Electric Pension Trust
NYC-based TuneSat LLC, an audio fingerprinting technology company that enables music rights holders to track the usage of their music on TV and the Internet, announced today that it has raised over $6 million in a funding round led by General Electric Pension Trust, advised by GE Asset Management.
NYC's TuneSat has just secured an additional round of funding.
Scott Jones, Founder and CEO of ChaCha and former CEO and Chairman of Gracenote, together with several existing TuneSat investors, also participated in the round. Jones and Carlos Monfiglio of GE Asset Management will join TuneSat’s Board of Directors.
According to TuneSat, the company will utilize the new equity capital to expand the global reach of its content monitoring services.
Founded by BMI award-winning “NFL On Fox Theme” composer and producer Scott Schreer, along with composer/producer Chris Woods, TuneSat provides rights holders with near-real time visibility into when and where their music is being performed on TV and the Internet.
The company utilizes a proprietary audio fingerprint technology and monitors hundreds of broadcasters and millions of websites across the globe. As a result, using TuneSat data, content owners can ensure that they are properly paid for licensed music while protecting themselves against its unauthorized use.