Rightscorp closes $2.65MN in funding
| 26 September 2014
Rightscorp (RIHT), which represents more than 1.5 million copyrights has closed on $2.65 million in private financing.
The company—which partners with major motion picture studios, numerous platinum recording artists, songwriters, authors, Academy Award-winning films, and top TV shows to combat online piracy—has received settlements from subscribers of more than 140 ISPs to date, and has closed more than 100,000 cases of copyright infringement to date.
"This funding will be used to expand on our automation and continue our growth trend," said Christopher Sabec, CEO of Rightscorp . "We are confident this funding, at a time when pre-release piracy is on a rise, will accelerate our path to profitability and help us realise our vision that digital creative works should be protected economically so that the next generation of great music, movies, video games, books and software can be made and their creators can prosper."
This financing news comes just a day after RIHT received an updated analyst rating from Small Cap IR. Michael Anderegg of Small Cap said that the company is "poised to take advantage of a fortunate convergence of unmet need, drastic increases in piracy/IP infringement and mushrooming volumes of IP that require protection." He added, "This combination of demand and vulnerabilities is likely to present very large and rapidly growing revenue opportunities for years to come based on current estimates of available revenue near $2.5 billion dollars annually." inShare0