Music Startup CommonEdits Gets $600K Seed Capital, Nears June Launch

The music startup was backed by a $600,000 investment and support from the CodeLaunch accelerator.

CommonEdits

CommonEdits, the Dallas startup that created a drag-along license that helps music artists get a cut of each download of their songs, is ready for its North American product launch in June.

The launch is supported by $600,000 in seed capital from an Austin venture capital firm, and resources provided by Code Authority, the Frisco-based software development company that produces the CodeLaunch seed accelerator competition.

Matthew Lewis, founder of CommonEdits, met last year with Code Authority’s Jason Taylor, and although CommonEdits wasn’t quite ready for CodeLaunch, Taylor said Code Authority was excited to invest in the startup outside of the accelerator setting.

“We jumped at the opportunity to invest in CommonEdits outside the CodeLaunch competition cycle because the concept, the space, and Lewis were that intriguing.”
Jason Taylor

“We jumped at the opportunity to invest in CommonEdits outside the CodeLaunch competition cycle because the concept, the space, and Lewis were that intriguing,” Taylor said.

Code Authority’s first round of investment was offering the startup its custom software team in the form of a product discover hackathon, according to a release.

After presenting his mission at the LaunchDFW Dallas New Tech meeting in early 2016, Lewis test marketed his idea for a collaborative music platform that facilitates the creation, publishing, and distribution of new music by independent artists.

After the South by Southwest’s 2016 Music Hackathon, Lewis accepted an invitation to Seed Sumo accelerator in Bryan/College Station.

Lewis later approached Code Authority for another round of support and the accelerator collaborated with the CommonEdits team to produce a minimal viable product that was ready for pitch days at both Seed Sumo and CodeLaunch, according to the CodeLaunch release.

Lewis was approached by several investors at both events, before receiving the $600,000 investment from the Austin firm.

More Reading on CommonEdits

CommonEdits Creates Digital Library to Protect Artists’ Rights


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