Today MOLTEN is announcing that it has raised $7 million in total seed funding, with investments from top Hollywood and tech luminaries as well as venture firms to help the company further develop its solution and operations.

The seed round was led by Abstract Ventures; with participation from Ashton Kutcher, actor and Partner at Sound Ventures; and Michael Ovitz, co-founder at CAA and former President at The Walt Disney Company. Other participating individuals include Jack Dorsey, co-founder and CEO at Twitter and Square; Bill Ackman, CEO at Pershing Square Capital Management; Kevin Yorn, leading entertainment attorney; Steffen Naumann, former CFO at Axel Springer; Todd Ruppert, former President and CEO of T. Rowe Price Global Investments, and Henry Ward, CEO at Carta. Other participating venture capital funds include Lakestar and Valor Capital Group.

MOLTEN is a unique cloud-based platform that modernizes internal operations of media companies, across rights, content and financials. MOLTEN was built by a team from MIT along with media industry executives and leading tech advisors. The company was founded in 2018 and has closed $7 million in seed funding, with investments from top firms and Hollywood and tech luminaries.