Hook, an AI-powered startup music platform that enables users to create and earn from legally licensed music mashups and remixes, has announced it has closed $3 million in additional funding.
With the latest capital injection, the platform has raised a total of $6 million, Hook said in a statement issued on Wednesday (March 26).
The company also announced that in the space of four months it has struck deals with 16 music partners, bringing on board music from 1,200 artists whose works can be used for remixes, among them Justin Bieber, Teddy Swims, James Blake, BLOND:ISH, Playboi Carti, Ty Dolla $ign, KSHMR, Hardwell, Swae Lee, Big Sean, Migos, Soulja Boy, Sadie Jean, Jaden Smith, Killer Mike, and Cash Cobain.
Hook’s unique selling proposition is that it offers a remedy to the proliferation of unlicensed content on social media.
“With 40% of music consumed on social media coming from remixes and mashups, often created without proper licensing, Hook provides a legitimate solution for creators while ensuring that rights holders maintain control and monetization of their content,” the company said.
The latest funding round included new investments from Khosla Ventures, Kygo‘s Palm Tree Crew, and The Raine Group, along with additional capital from existing investors including Imaginary Ventures, Steve Cohen‘s Point72 Ventures, KSHMR, and Waverley Capital, co-founded by former Warner Music Group CEO Edgar Bronfman, Jr.
“We have built music’s new ecosystem, where creativity and rights can finally coexist.”
Gaurav Sharma, Hook
The new capital will go toward accelerating Hook’s marketing efforts and strategic hiring, with a focus on user acquisition, the company said.
“We have built music’s new ecosystem, where creativity and rights can finally coexist,” said Gaurav Sharma, Founder & CEO of Hook.
“For too long, the industry has been stuck choosing between protecting artists’ rights and enabling creative expression. Hook creates a future where fans and creators can freely express themselves, artists and labels can properly monetize their work, and the entire music community thrives together.”
He added: “This isn’t just about fixing a broken system – it’s about building the foundation for music’s next chapter.”
Michael Diaz, CEO of Palm Tree Crew, added: “We are incredibly excited to invest in Hook and support its mission to innovate how artists and creators engage with their work and interact with their fans. We look forward to working with and supporting Gaurav and his team on this journey.”
Hook announced in October 2023 that it had raised $3 million in a seed funding round led by Waverley Capital and Point72 Ventures. Six months later, it said it had expanded the seed round and raised $3.5 million.
Since that time, it has been busy developing partnerships with music rightsholders, including a deal with Downtown Music in August of last year, a deal with Glassnote Records in October of last year, and a partnership with indie distributor Too Lost announced this past February.
The company launched a remix app for Apple devices last September.
“Hook redefines how fans connect with the music they love, turning music listening into an active canvas for creativity. For artists, this opens up entirely new horizons for expanding their influence and unlocking untapped revenue streams. We’re thrilled to lead the evolution of music expression and creativity, and we can’t wait for the world to experience music through Hook,” Sharma said at the time.Music Business Worldwide
