- Brainbase — the makers of IP licensing platforms Brainbase Assist and Marketplace — announced it raised $3 million in seed funding
Brainbase — the makers of intellectual property licensing platforms Brainbase Assist and Marketplace — has announced a $3 million seed round of funding led by Struck Capital with participation from Tectonic Capital, Bonfire Ventures, Sterling Road, and Watertower Ventures.
What does Brainbase do? Brainbase is focused on scaling a unique solution for the licensing community that helps brands and licensees showcase, connect, grow, and manage their businesses.
“Intellectual property licensing is fundamentally broken with the space dominated by a few players all dependent on legacy or homegrown infrastructure. In an environment where new brands are constantly emerging, the pervasiveness of social media enables them to become recognized on the world stage overnight,” said Adam B. Struck, founder and managing partner of Struck Capital. “At Struck Capital, we search for passionate entrepreneurs who want to change the world and Nate and his team share that vision. Brainbase combines a fresh perspective with incredible UI/UX to fundamentally lower the barriers to entry to the IP space as a whole, rapidly increasing the total addressable market and unlocking its long tail.”
This round of funding comes on the heels of company growth including the addition of several new clients including Sanrio (the lifestyle brand known for Hello Kitty) and Moomin Characters. Plus Brainbase also announced it made some key hires including Andrea Adelson as Head of Growth and Ted Larkins as Head of Business Development. Adelson was previously SVP of Licensing for Fremantle — which is the producer and distributor of shows such as Family Feud, The Price Is Right, and American Idol. And Larkins was previously SVP and GM of the licensing agency CPLG North America.
Another announcement the company made is that Ray Rehito Hatoyama will be joining the board. Hatoyama is an expert in IP and licensing and the CEO of Hatoyama Studio and Independent Director at LINE Corp.
“We are excited and thankful to have a seasoned, global group of investors, advisors, and customers supporting Brainbase’s mission,” added co-founder and CEO Nate Cavanaugh. “Our vision of building a product ecosystem for licensing management and monetization is resonating well across the industry. Our team is going to remain obsessed with building the best licensing technology platform and providing a great customer experience,” he added. “Those are ultimately the things that matter.”
Brainbase was founded by Cavanaugh, Karl Johan Vallner and Nikolai Tolkatsjov. And the company is based in Los Angeles.
