(Hypebot) – Cinq Music has completed a $20 million Series B rounded funded by GoDigital Media. Cinq will use the funding to purchase music rights, both masters and publishing, and to further expand internationally. Additional details of the funding were not disclosed.
Artists services firm Cinq Music has built its business with a Latin focus, releasing five number one Indie records on the Billboard Urban and Tropical Charts. In 2016, Cinq was nominated for Billboard's Latin Rhythm Label of The Year and current clients include rapper T.I.
Today, the company announced a $20 million Series B round funded by GoDigital Media
“Up until now our growth has been primarily organic, so we are extremely excited to hit the throttle, bring on some additional catalogs, and sign new talent," said Cinq President Barry Daffurn, announcing a $20 million Series B round funded by GoDigital Media. "Over the past few years we have built a music company for the future, a place for mid-to-high level talent to grow outside of the major label system.”
Cinq has released five number one Indie records on the Billboard Urban and Tropical Charts. and was nominated for Latin Rhythm Label of The Year at the 2016 Latin Billboards. Clients include rappers T.I. and Joyy Boy.
Although Cinq has been most notably associated with Latin music, Daffurn confirmed that the funds will be used to acquire rights from all genres.
"We’re ecstatic about our ability to fund Cinq Music for its acquisitions,” says GoDigital Chairman Jason Peterson. “Cinq is now strategically complete, having the ability to scale both its label, distribution, and publishing capabilities with our proven business model for global music rights management.”
GoDigital Media Group provides technology enabled intellectual property rights management and monetization. Subsidiaries include ContentBridge, AdShare and VidaPrimo.