Mogul calls itself the Rocket Money for the music industry

Amount raised: $1.9 million, according to the company.

What it does: A fintech tool for musicians, Mogul compares itself to the personal finance and budgeting app Rocket Money. "Our mission is to help musicians and their teams understand their business so that they can make more money," said co-CEO Jeff Ponchick. The startup was cofounded by Ponchick and Joey Mason, both ex-SoundCloud executives.

Artists, labels, and other rights holders use Mogul to pull earnings data, such as statements, catalogs, and registrations, in order to understand where royalties are coming from.

"Once we have all that data, we can start to say, 'Okay, well you put this music in Spotify through this service for the sound recording side,'" said Ponchick. "'On the publishing side, we're seeing you're not receiving mechanical publishing royalties in these 10 territories, so you should probably reach out to your publisher about that.'"

Why it matters for the music world: With so many working parts and stakeholders across the music industry, Mogul wants to make earning money a little bit easier for artists.

"There's just so many different ways to make money [and] no one trusts any of these entities," said Ponchick. "We're trying to build a place where people can go to get the peace of mind to know if they're good or not. And if they're not, they can take action on what to improve so they can be getting paid what they're owed."