Cosynd announces new hire and Pro Suite launch03 July 2019 - Press release
Cosynd Grows with Key Hire and New Pro Suite for Labels, Managers, Publishers, and Law Firms, Following Acceptance into Morgan Stanley Accelerator
- Company recently joined Morgan Stanley’s Accelerator
- New Pro Suite is a set of integrated, intuitive tools for labels, publishers, management companies, and law firms.
- Liz Cimarelli joins the company as COO/Head of Business Development.
Cosynd, a New York-based legal service automating copyright contracts and registrations, today announced the launch of Cosynd Pro, a new suite for labels, managers, and publishers. Cosynd is also expanding its team, as seasoned music tech executive Liz Cimarelli joins the company as COO/Head of Business Development.
Cosynd was recently accepted into Morgan Stanley’s Multicultural Innovation Lab, an intensive accelerator designed to help build and scale startups founded by women and multicultural entrepreneurs. Through this program, Cosynd has received an investment and strategic support from Morgan Stanley that enabled the launch of Cosynd Pro.
The Investment from Morgan Stanley kicks off the beginning of a larger capital raise that Cosynd will complete this year. In addition to capital, Cosynd will be able to leverage Morgan Stanley’s expansive global networks, resources and expertise as it continues to expand rapidly.
Liz Cimarelli has more than 15 years' experience leading strategic efforts for major corporations that span the entertainment, music, and media industries, including Nielsen Entertainment, Semetric/Musicmetric, MusicMind Tracks, MediaEdge, and McCann / MRM Worldwide. Prior to Cosynd, Liz led business development efforts for Nielsen Entertainment's music measurement and custom solutions for more than 100 independent label, management, and distributor clients on the East Coast. She also serves on the Board of Directors of Women in Music, the music industry's largest and longest running non-profit for women in the arts that provides resources to thousands of women, worldwide.
"I am thrilled to be joining the Cosynd team to help further their mission to support and protect the creative community,” says Cimarelli. “By offering a user-friendly and affordable legal solution for what was an otherwise complicated and expensive endeavor, we are leveling the playing field for all content creators - and that, I can get behind."
"We are so excited to officially welcome Liz to our team! Liz has an unparalleled ability to create client-driven strategies that sync with larger operational and business development goals in a way that will be game-changing for us,” notes Cosynd CEO and founder Jessica Sobhraj. “She is a natural fit here and is the perfect person to oversee our strategic expansion during a period of rapid growth. Not only has she proven herself to be one of the most sought-after business development experts in the music industry, but she also deeply cares about helping the creative community on a personal level, too, a trait essential to the way that we run our company."
Cimarelli’s deep knowledge of the label and publishing world will be crucial in supporting Cosynd’s new business suite, a set of integrated, intuitive tools for labels, publishers, and management companies. Cosynd Pro allows users to create split sheets, premium split sheets, work-for-hire agreements, and producer agreements between any set of parties (such as business to business, business to creator, or creator to multiple creators).“These agreements validate ownership and prevent false claims on copyrights, plus they allow creators and companies to control who can license their copyrights, use their name, image, brand, and more,”explains Sobhraj.
Creating an agreement using Cosynd Pro is easy, collaborative, and centralized. For each agreement, parties can negotiate by choosing from preset options, just as they can using Coysnd's regular artist-targeted service. A business user can then look at the most popular changes requested in an agreement without having to manage multiple versions of documents or dozens of emails. Attorneys who represent anyone involved in an agreement can be invited to review or redline the document. Finally, Cosynd allows companies to register resulting works with the Copyright Office via a simple, guided experience faster and more affordably than anywhere else. For large organizations needing further customization, Cosynd can automate any other important legal agreement that plays a frequent role in their business.
These tools are designed to automate and streamline these processes at a fraction of the cost. “As we’ve done for artists, we’re building a product focused on allowing businesses to meet the demands of their clients, generate more revenue, and scale faster. All while protecting their key copyrights and streamlining relationships with talent and other professionals,” says Sobhraj.