Series A23 November 2021

Synchtank secures £4.3m Series A funding from Octopus Ventures to scale operations

Octopus Ventures led the Series A round to support product development and international expansion.

£4.3MSeries A

Synchtank provides cloud software for music and media businesses to manage rights, assets, and royalty accounting. Its platform supports major entertainment brands with enterprise data integration and secure infrastructure.

Synchtank has raised £4.3m in Series A funding led by Octopus Ventures, with backing from existing management and shareholders. The capital will be deployed to accelerate product feature development, expand service delivery, and scale the customer footprint outside of North America and Europe.

The music and media sectors are experiencing a surge in digital consumption and rights acquisitions, creating complex data management hurdles for rights holders. Synchtank addresses these operational challenges with an end-to-end software platform handling metadata, rights administration, and royalty collection.

The fresh injection of capital marks the beginning of an expanded partnership with Octopus Ventures, positioning the company to further consolidate its position in the media technology market.

From the founder

"We have come a long way as a company with phenomenal progress in the last two years taking the company far beyond its original sync-based business. We now provide the backbone for any modern media company, encompassing every part of their software requirements. We are excited to be working with Octopus with their focus and commitment on a long-term strategy in the company, funding not only this current round but also building further finance rounds as music, media and broadcast growth continues to explode, presenting a wealth of opportunities"

Rory Bernard

CEO at Synchtank

Investor perspective

"The rapid growth of streaming means the music industry is almost unrecognizable from a decade ago, with huge investment now flowing into rights acquisitions too. While this is clearly a positive, it’s also created an explosion of complex data that has become challenging to manage."

Edward Keelan

Investment Principal, Octopus Ventures