Connect Music closes 80 million funding round

An $80 million capital raise just landed at a Memphis tech firm that's pitching AI tools and financing to independent artists who want to skip major labels.

Connect Music secured funding from Rockmont Partners and Variant Investments

• The company closed the deal on February 5, according to a press release.
• Rockmont Partners and Variant Investments are backing the Memphis-based firm.
• The cash will fund catalog acquisitions and licensing operation expansion.
• Proprietary AI models help artists monetize and protect their intellectual property.

George Monger founded the company in 2020 after nonprofit work

• Monger launched Connect Music four years after running the Memphis Symphony Orchestra.
• He managed an international touring opera singer early in his career.
• The CEO ran a nonprofit music organization for four years before that.
• His leadership pairs operational discipline with a deep commitment to creators.

Connect Music's roster includes Grammy-nominated producers and multiple artists

• Mike & Keys are a Grammy-nominated producer duo on the roster.
• Artists signed include Sauce Walka, Don Trip, Boosie Badazz, and BIG30.
• The company launched a $10 million fund for independent artists in 2022.
• Connect acquired London-based MTX Music that same year for artist services.

Independent artists are chasing alternatives to major label financing deals

• Pipeline raised over $200 million in January from Jamen Capital backing.
• beatBread has deployed over $100 million across 1,700 funding agreements since 2020.
• Duetti secured $200 million in fresh financing last month from Raine Partners.
• The Raine Group led a $50 million Series C equity investment.