Beatroot Shuts Down, Declared Insolvent
Manchester based Beatroot has entered administration, the UK equivalent of bankruptcy protection. Founded in 2015, the online platform helped record labels, production companies and publishers prepare music for digital distribution, collecting tracks, metadata and legal rights in a single place.
B2B music tech company Beatroot has laid off all of its staff and entered administration a year after recieving $167,00 USD in funding from Creative England. Early Beatroot clients included PIAS, Warner Music, Domino and Sentric.
The underlying tech is now for sale.
"Beatroot’s technology holds great appeal in this digital age and discussions with several interested parties regarding a potential acquisition of the company’s assets are ongoing," Steven Wiseglass from insolvency practice Inquesta told the UK's Business Sale Report.