US-based company FADEL, an innovator of enterprise rights and royalty management software, has closed Series B venture funding round from a group of investors for an undisclosed amount.
The financial round led by Middle East Venture Partners (MEVP) and joined by a $30 million initiative funded by the Government of Lebanon and the World Bank (Kafalat iSME), and a MENA-based venture capital firm (B&Y Venture Partners).
Founded in 2003, FADEL is headquartered in Rye, New York, and also operates offices in New York City, Los Angeles, London, and Lebanon.
FADEL has worked with some of the biggest names in media, life sciences, fast-moving consumer goods, publishing, high-tech, and advertising, and by automating talent and content rights management across videos, photos, ads, music, products and brands, and streamlining the processing of licensing royalties.
The funding will be used to foster further expansion and growing the partner ecosystem and strengthening FADEL’s footprint across North America and Europe, as well as to provide continued R&D for its products and add deployment support for new cloud hosting platforms, in addition to Amazon Web Services (AWS).
“We are excited to be working with such a professional and globally minded team of investors, The company has seen significant growth since our first investment round, including building a network of global value-add technology partners, resellers and system integrators,” said Tarek Fadel, Founder, and CEO of FADEL.
He added that ” Our goal is to continue to expand and strengthen our routes to market by adding new partners into our programs and to continue to expand our presence in the Advertising, Media and Publishing verticals.”
“We view FADEL as a thought leader in the enterprise rights and royalty management space and believe in the value of their solutions to drive increased licensing revenues and mitigate licensing copyright exposure, which is why we continue to invest in their growth,” said Riyad Abou Jaoudeh of MEVP.
FADEL’s solution portfolio includes a marketing cloud technology, Rights Cloud, which is changing the game in the advertising production landscape by providing content usage risk mitigation and go-to-market acceleration for global, omni-channel marketing campaigns, also IPM Suite continues to help major licensing and publishing companies to monetize their intellectual property and streamline the processing of royalties.
“In addition to these offerings, we are attracted to FADEL’s dynamic team, proven industry track record, and the impressive roster of clients,” said Bassel Aoun of Kafalat iSME. “Their unique cloud-based solutions, which are deployed across large enterprises on a global basis, offer tremendous opportunity for continued growth.”
“B&Y’s mission is to invest in visionary companies aiming to create new markets or transform existing ones, which is why we are thrilled to partner with MEVP and Kafalat iSME in backing FADEL,” said B&Y Venture Partners’ Fadi Bizri. “The company’s innovative products are poised for tremendous success and we look forward to the journey ahead with this team of thought leaders.”