Hook

Hook’s unique selling proposition is that it offers a remedy to the proliferation of unlicensed content on social media

Hook has released more than 7 million songs, with about 150,000 new releases per month from 300,000 artists

Hook enables users to create authorized remixes and mashups using licensed music

The app allows users to create short-form remixes and mashups of popular songs using AI

The deal “could serve as a blueprint for how AI companies can successfully work with music rights holders"

Round was led by Waverley Capital, co-founded by former Warner Music Group CEO and Chairman Edgar Bronfman Jr., and Steve Cohen’s Point72 Ventures

Company says it uses artificial intelligence "to empower anyone to remix and remake their favorite songs".