MUMBAI: Qwire (qwire.com), creator of SaaS software to streamline royalty reporting and licensing for music-for-picture has received over $2 million in additional funding from current and new investors. This will expand the New York and Los Angeles-based company’s sales efforts and accelerate development and enhancement of its cue sheet reporting tools.

 “This new investment demonstrates investors’ confidence in Qwire and in our software’s ability to transform music post production and royalty reporting,” said Qwire founder and CEO Scott Freiman. “This funding will allow us to take the company to the next level, as we continue to license qwireClear to major film/TV studios, and we bring our next-generation cue sheet management and reporting software – qwireCue – to market,” he added.

 Jerry Labowitz, former Director of Equities Research for the Americas for Merrill Lynch, agreed, "Qwire is seeing interest from a large and growing range of companies in the music-for-media business. I was happy to participate in the growth of this innovative company and their transformative software tools.”

Qwire creates collaborative, cloud-based software that addresses significant problems with music licensing and royalty reporting common to companies working with music-for-picture, including some of the largest media companies in the world —  film/TV studios, trailer houses, video game development companies, advertising agencies, and professional sports networks — as well as rights holders (e.g. music labels and music publishers) and Performance Rights Organizations.