Royalty management platform Mogul raised $5 million in a funding round led by the Yamaha Music Innovations Fund, along with the Urban Innovation Fund, Mindset Ventures and EU-based Fairway Capital Partners and existing investors Amplify LA and Wonder Ventures.

Since launching last year, Mogul has processed more than $1.5 billion in royalties on behalf of artists, according to a press release. Thanks to the new round of funding, it also recently established a catalog valuation center that connects artists and managers with financing partners.

“A universal source of truth for music royalties has long been the industry’s holy grail,” said Mogul founder and CEO Jeff Ponchick in a statement. “Instead of forcing a top-down solution, trying to wrangle Labels, Publishers, CMOs, and others, Mogul starts at the data itself by bringing together the fragmented metadata that determines payouts and turning it into a clear, actionable view of an artist’s income, with tools to surface and resolve issues fast.”

“Mogul is addressing one of the largest structural inefficiencies in the creator economy: fragmented data across royalties, revenues, and payments,” added Andrew Kahn, managing partner at Yamaha. “By aggregating hundreds of sources into a unified platform, they’re shrinking the tech stack for creators while unlocking faster, more accurate compensation. This combination of broad applicability and deep product execution creates defensibility, and while music is the most visible entry point, the opportunity extends well beyond it.”