Official announcements from ProRata or the acquiring company

AI Startup ProRata Raises $25M, Secures Major Media AI Licensing Deals

Aug 6, 2024, 03:16 PM

AI startup ProRata, founded by Bill Gross and Idealab Studio, has raised $25 million in a Series A funding round. The company has secured licensing deals with major media publishers including Financial Times, Axel Springer, The Atlantic, Fortune Magazine, and Universal Music Group. ProRata aims to fairly credit and compensate content owners for the use of their material by generative AI platforms. The company promises accurate attribution and revenue sharing from AI chatbot subscriptions. ProRata has confirmed AI licensing deals with major publishers.