Digital rights technology company PEX has completed a new $57 million funding round, raising the cash from existing investors and additional funds from TENCENT, TENCENT MUSIC ENTERTAINMENT, THE CUEBALL GROUP, NEXGEN VENTURES PARTNERS, AMARANTHINE, and others. The company plans to use the investment to scale its Attribution Engine (AE) platform for licensing digital content.
“Attribution is vital to the Internet; it can help protect copyright without stifling creation,” said PEX Founder/CEO RASTY TUREK. “AE sets new standards in speed and scale and is the first platform capable of meeting today's content growth and demands. It replaces unreliable upload filters and takedown requests with real-time use authorization and licensing, benefiting creators while recognizing and compensating those whose works are sampled and shared.”