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Video content consumption is increasing rapidly across streaming platforms, territories, and licenses globally. Media companies therefore face the challenge of efficiently licensing, distributing, and accounting for more content and revenue streams than ever before. Built for the pre-streaming era, existing tools to manage internal processes tend to fragment operations, limiting the scalability of media businesses and subjecting them to higher costs and legal risk.
MOLTEN is an enterprise cloud platform built from the ground up to address this problem. The solution reimagines conventional rights, content, and financial operations. Our unique vertical-cloud technology connects disparate data pipelines to provide a connected infrastructure for seamless process automation across the organization. Easy-to-use and highly customized cloud apps powered by this data layer, help various teams across the organization interact with their data and automations without any coding required.
Today MOLTEN is announcing that it has raised $7 million in funding, with investments from top Hollywood and tech luminaries as well as venture firms to help the company further develop our solution and operations.
The seed round was led by Abstract Ventures; with participation from Ashton Kutcher, actor and Partner at Sound Ventures; and Michael Ovitz, co-founder at CAA and former President at The Walt Disney Company. Other select investors include Jack Dorsey, co-founder and CEO at Twitter and Square; Bill Ackman, CEO at Pershing Square Capital Management; Kevin Yorn, Managing Partner, Morris Yorn Entertainment Law Firm; Steffen Naumann, former CFO at Axel Springer; Todd Ruppert, former President and CEO of T. Rowe Price Global Investments, and Henry Ward, CEO at Carta. Other select venture capital funds include Lakestar and Valor Capital Group.
"While the media and entertainment industry is going through incredible growth, the increasing complexity of the various data streams demands modernization of back-office operations. MOLTEN’s cloud technology is the platform we need now to connect people, data and processes within media organizations. We are excited to invest in this business and support its mission to simplify processes and lower operating costs for the media industry." - Ramtin Naimi, Partner, Abstract Ventures
The global media and entertainment industry is taking note of the MOLTEN platform. Since first launching the beta version of the platform in late 2019, customers from six continents have already on-boarded, and today they manage hundreds of millions of film and TV rights and hundreds of terabytes of content for catalogs worth hundreds of millions of dollars on the MOLTEN platform.
"MOLTEN is an essential innovation needed to equip media and entertainment companies to scale effectively in the global streaming era."- Michael Ovitz, co-founder at CAA, and former President at The Walt Disney Company
"I first started looking at media management solutions 20 years ago. MOLTEN finally does what no one else has been able to do."- Mika Salmi, Managing Partner, Lakestar Ventures
"Managing underlying rights, content and financial operations has always been a challenge in the media industry, which has gotten worse with the advent of streaming. All media and entertainment companies must modernize their core operations now, to keep pace with the changing industry. MOLTEN helps them do just that."- Kevin Yorn, Managing Partner, Morris Yorn Barnes Levine Entertainment Law Firm
"What Carta has done for ownership in companies, MOLTEN is doing for ownership in media assets. It's a well-designed product built by a strong team."- Henry Ward, CEO, Carta
"MOLTEN is a digital nervous system that connects media rights and assets around the globe. The extremely rapid uptake by media companies highlights that MOLTEN is the leading technology today to solve some of the toughest operational challenges of media and entertainment businesses. The team is exceptional and has grown from strength to strength."- Todd Ruppert, former President and CEO of T. Rowe Price Global Investments
MOLTEN exists to empower media rights-holders, such as production, distribution, and streaming organizations. They use the MOLTEN platform to transform their businesses. Some can, for the first time, connect rights, content, and financial data to avail new revenue opportunities. While others can automate various internal tasks, and go from months of work to seconds of processing and reduce costs significantly.
We value the opportunity to help our customers thrive in the rapidly changing media industry. We are thrilled to have the confidence and support of our investors and customers as we roll out the MOLTEN platform more widely for film and TV companies everywhere.