Stem Music Raises $8 Million

Startup Stem Music just closed $8 million in financing. Three investors participated in the round: Evolution Media Growth Partners, Aspect Ventures, and Upfront Ventures.

Stem tracks and organizes revenue streams for artists and their teams, giving a clear picture of earnings and ensuring that everyone involved in the creative process gets paid.

In its announcement, the company said that Stem is raising money in part to build tools for music distributors such as iTunes and Spotify.