AIT News Desk 22 Jan 2020
Scaeva’s $2.5 Million Series a Will Turbocharge High-Margin Revenue Growth
Scaeva Technologies Inc, inventor of ground-breaking new headphone technology and the ScaevaSAFE content protection platform, announces that it has closed its first institutional funding, with Impact Venture Capital leading the round.
Since its inception in 2017, Scaeva has been committed to fixing the broken music industry through technical innovation. Its portfolio of intellectual property will enable millions of independent artists to create new compelling content while assisting them with protecting and monetizing the product of their blood, sweat, and tears. Although recording labels historically have provided substantial value to the industry through promotion and resources, artists need not be dependent on a label deal in order to succeed. Through the application of advanced innovation, Scaeva’s products solve many of the traditional label dependencies, enabling artists to create hit content without sacrificing control of their art. In addition, the ScaevaScan AI platform applies machine learning science to assess how fans react to content, introducing a whole new world of tools leading to more hit recordings, greater monetization opportunities, and even innovative health-related applications in the future.
Wendy Curd, Scaeva’s co-founder and VP of Administration, states “After spending years observing the economics of the music industry, we decided to focus on the dramatic loss of recorded music revenues: from an inflation-adjusted $40 billion in 2000, to less than $20 billion last year. Since there is no evidence that fans are less interested in purchasing music than in the past, we are committed to finding solutions to replacing the missing $20 billion.”
Steve Curd, Scaeva’s President, CEO, and co-founder adds “We are gratified that the Impact Venture Capital team recognizes the significant value of our innovation. Artists and music streaming companies struggle to earn a profit, yet fans are willing to pay for the content that they truly love. Our goal is to drive innovation and new technology into the industry to enable new growth opportunities. As fans, we welcome the arrival of compelling new content, and look forward to the day when the artist can enjoy the economic reward he or she deserves.”
Eric Ball, Founding General Partner of Impact Venture Capital, adds, “From the moment we met Steve and the Scaeva Technologies team, we were impressed by their track record of leading innovative organizations, and their approach of fusing science and art. The music industry has needed this level of innovation as it transitions through a period of great disruption. We are pleased to have an opportunity to work with the Scaeva team, as it redefines how music is made, distributed and monetized through new audio science and advanced machine learning tools.”
