Topics
Latest
AI
Amazon
Image Credits:Mozaic.io
Apps
Biotech & Health
Climate
Image Credits:Mozaic.io
Cloud Computing
Commerce
Crypto
Image Credits:Mozaic.io
Enterprise
EVs
Fintech
Fundraising
appliance
punt
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
privateness
Robotics
security system
societal
infinite
Startups
TikTok
deportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
get hold of Us
creator often process with different collaborators for dissimilar projects . And splitting payments with others is one of the biggest challenge for creators . Mozaic(previouslyJammber ) is trying to resolve this problem through its range of solutions , admit APIs and Chrome propagation .
The party has raised a $ 20 million Series A round of funding from Volition Capital . Mozaic has raised more than $ 27 million to engagement from investors like emanation of the Rest , Maverick Nashville and medicine industry administrator Joe Galante . The startup was set up by CEO Marcus Cobb and SVP of Growth Rachel Knepp in 2015 with an intent to evolve tools to handle dissimilar parts of the medicine job , ranging from citation management to ticketing .
Cobb secernate TechCrunch that , while initially the company decided to focus on the B2B aspect of euphony , Mozaic decided to swivel to creating a collaborative payments mathematical product using its experience in music project management in 2020 due to the pandemic .
“ To test likely product / market fit , we put together a PowerPoint sales pack of cards in about two days and cold - shout out 200 music allocator . When 60 LOIs ( Letter of Intents ) come in within 30 days , it signaled the pivot was the right choice . We committed to the new direction and the early beta went live about 16 month later on in January 2022 , ” Cobb say .
The idea was to have creators move away from solutions such as PayPal , CashApp , Venmo and Zelle , which might not puzzle out if their collaborators were in a country where these resolution do n’t subsist .
Mozaic ’s core product is its API , which can well secure into platforms such as Spotify , YouTube , Twitch and other usance solutions . Jason Hadshian ’s Made By Us Music and Creative Space & upshot — who have work with artists like 50 Cent , P Diddy , The Clipse and Rihanna — practice Mozaic ’s solution to automate defrayment to clients .
How does this work?
Cobb said that typically a birdcall has three to five cooperator and only the God Almighty gets paid now . They then have to propagate the money . A lot of time , splitting payments was also a pattern problem as there was no agency to limit these splits with rules . He order that Mozaic has JSON - based smart contracts ( not the blockchain kind ) , which automatically send payments to unlike collaborators free-base on the rules of that project .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
artist directly receive payments and reports about different projects on the platform . If they do n’t have an account , they will need to sign up with introductory info to startle getting payment mechanically . Mozaic claim a fee of 1.99 % + $ 1 per transaction ( capped at $ 25 ) for its military service .
A medicine diligence executive told TechCrunch that record label and distributors have their own organization in place , but they are laborious in nature and a lot of reporting is manual . This is exhaust for pardner as they need to take after up multiple times with very little transparency on the process . So something like Mozaic could be a good solution . But to have all-embracing borrowing , the inauguration ’s API will require to work with labels ’ own legacy systems .
Future roadmap and challenges
mod distributor such asDistroKidandByteDance ’s SoundOnare building automatic royal family snag algorithms in their solutions . However , Mozaic believe that because of its cross - border competence , its solutions will be adopted well .
Cobb said that labels and creator houses wanting to be militant in the outer space will ask to adopt modern solutions to pay artists in a well-timed manner . Otherwise , they risk losing them .
“ What I ’m in person most excited about is a Chrome extension that allows you to add splits to anything . That Chrome denotation will run on YouTube , on Etsy , on Spotify and on GitHub . And it ’s as soft as tag your booster on the ware pages , ” Cobb said .
Mozaic is also working on a web site for businesses for respectable reportage and snag revenues or affiliate sales .
The company is cashflow positive as of this year and even after plans to elaborate its squad through newly raised funds it plans to rest tight to gainfulness .
Larry Cheng , co - founder and managing pardner at Volition Capital , say that the growth - point venture house has sour with many brand led by creators and the trouble of requital split is a huge burden on them . He said that even some established artists do n’t have their accounting or financing team to handle all the complexness .
Cheng , who also sits on the board of GameStop , added that given that substitute originative vertical like YouTube Gaming are gaining adhesive friction , Mozaic is well positioned to take advantage of that movement .
