Mozaic Co-Founder Marcus Cobb Raises $20M Series A To Make It Easier For Creators To Get Paid

According to TechCrunch, Mozaic — a global payment platform geared toward co-creators — has raised $20 million from Volition Capital in a Series A round.

The investment brings the companies total funding to more than $27 million with participation from investors such as Rise of the Rest, Maverick Nashville, and Joe Galante.

Cobb, who started the company in 2015 alongside Rachel Knepp, credits the success of their latest funding round to their participation in the Google for “Startups Accelerator: Black Founders” cohort, The Business Journals reports.

Per Google’s website, the 10-week digital accelerator program is aimed at promising Seed to Series A tech startups and provides them with resources that include mentorship and technical project support.

“As an entrepreneur, you hear that a lot but you don’t really know what’s going on in VCs’ heads or how they are looking at your business,” Cobb said, per The Business Journals. “That accelerator told us and showed us what they were saying. They tore it down. It was a lot of hard truth. They said: ‘I don’t see these metrics, I don’t see these KPIs.’ And it was exactly what we needed.”

From there, Cobb was able to develop the strongest pitch, which would be favorable to Volition Capital. The firm’s Managing Partner, Larry Cheng, believes Mozaic offers a solution to shared revenue for creators and says they are positioned to be a leader in automating multiparty payments.

“There’s been a significant secular shift in the content people consume, which has increasingly moved from traditional entertainment media to social-mobile,” Cheng said in a news release, according to Fintech Global. “People creating and making money with podcasts, music, gaming, ecommerce and other projects often collaborate with globally distributed teams. Mozaic’s platform solves the biggest challenge creators face with shared revenue and is securely positioned as the go-to solution for automating multi-party payments. Mozaic’s dynamic and experienced leadership team coupled with a solid first-mover advantage make this an exciting partnership.”

In light of the new funding, Mozaic is now positioned to scale its company and vision as they can grow their team before heading into 2024. The company, which is based in Chicago, IL, and Nashville, TN, also hopes to expand their office, its LinkedIn mentions.

What’s more, they are looking to launch new products, with plans to make their Chrome extension and mobile app available by invite-only in January 2024, TechCrunch reports. They hope to make it available to all creators in Q1.

“What I’m personally most excited about is a Chrome extension that allows you to add splits to anything. That Chrome extension will work on YouTube, on Etsy, on Spotify and on GitHub. And it’s as easy as tagging your friends on the product pages,” Cobb told TechCrunch.