Tech start-up Creative Intell has announced the close of a $3 million seed funding round.
The artificial intelligence-powered dealmaking platform for the music industry is backed by prominent music industry investors, leaders and companies.
Confirmed backers include Austin Rosen (Electric Feel Ventures, and co-management for Post Malone), Mac and Robert Reynolds (management, The Killers, Imagine Dragons), Rimas Entertainment (label and management, Bad Bunny), Lucas Keller (Milk & Honey Music + Sports, talent management), Ruttenberg Gordon Investments (1916 Entertainment & Rare Behavior, management and music production), Lucy Guo (Back End Capital), Dr Richard James Burgess (president/CEO of the American Association of Independent Music), Barry Weiss (Records), Dina LaPolt (founder, LaPolt Law), Robert Celestin (founder, Law Offices of Robert Celestin), Bret Disend (artist and producer management), Kevin Liles (co-founder and CEO of 300 Entertainment) and Lyor Cohen (YouTube, global head of music).
Creative Intell (CI) is developing a suite of AI-powered legal and educational tools that are designed to empower musicians and their teams to make smarter deals.
“For attorneys working with top acts, Creative Intell reduces tedious, low-value work to free up time for higher value client issues,” said a statement. “For millions of under-represented or under-resourced artists, Creative Intell will provide end-to-end legal solutions from drafting, negotiating, and signing, to data mining and reporting. Artists will have access to custom tailored legal documents and embedded educational experiences to help them understand how to use those documents. Creative Intell will help artists avoid typical industry pitfalls, and provide transformative education about where to find and how to protect revenue.”
The platform will launch based on US law but plans to roll out capabilities in other markets, including the UK.
The start-up believes that deal-making and educational tools are ripe for transformation by new tech.
“Everything in music has been democratised except for the legal process,” said Creative Intell co-founder Steven Ship. “For too long, artists have been left in the dark about how their deals are structured and function. It doesn’t need to be this way. All artists should have access to tools that help them understand the deals they are making.”
Creative Intell co-founder David Fritz added: “As an entertainment attorney, I see first-hand the pain points that creators, managers and lawyers experience on a day-to-day basis. We are the first to apply AI to solve these issues, and are uniquely positioned to develop the tools that we know the industry needs and wants.”
Industry backers have also spoken about the platform’s capabilities.
“I’ve seen firsthand just how removed an artist can feel from basic legal terms which impact the rest of their lives,” said Mac Reynolds, entertainment lawyer and manager of Imagine Dragons and The Killers. “By combining access to concise teaching tools with powerful, intuitive contract-creating software, Creative Intell empowers artists to avoid bad deals and, more importantly, take control of their future. Gone are the days of keeping artists in the dark about their rights and options.”
Dina LaPolt, whose firm represents artists such as Cardi B, Mick Fleetwood and Deadmau5, added: “It will be a game-changer for the music industry. From a legal perspective, it’s comprehensive and incredibly effective. I fully expect to be using this every day to run our business more efficiently.”
Creative Intell has offices in New York City and Montreal, Canada. The CI software platform is currently in private beta and is open for potential users to sign up.