BeatDapp

About BeatDapp

BeatDapp operates as a fraud detection company, providing technology and services to address the issue of fraudulent streaming within the music industry. The company was founded in Vancouver in 2018 by Co-CEOs Andrew Batey and Morgan Hayduk, along with CTO Pouria Assadipour, to ensure artists and rights holders are compensated fairly. The founders, who were MBA friends, combined their expertise to launch the company; Batey had a background in a tech company in the music industry, and Hayduk worked as a lobbyist for copyright protections for musicians. Their mission is to safeguard the economic health of the global music streaming industry.

The company's core business revolves around a system that authenticates, verifies, and validates media streams in real-time. This technology analyzes large datasets to identify anomalies and discrepancies indicative of fraud, with a reported false positive rate below 0.001%. In 2023, Beatdapp analyzed over two trillion streams and twenty trillion data points. The firm operates on a B2B model, serving a client base that includes digital service providers (DSPs), music labels, collection societies, creator tool services, and music distributors. Revenue is generated through annual contract fees from clients, which are calculated as a percentage of the additional revenue the platform identifies. The company offers a free trial period to demonstrate the technology's effectiveness to potential clients.

BeatDapp has secured significant funding and strategic partnerships. In January 2024, the company announced a $17 million USD financing round, bringing its total funding to approximately $22.7 million over four rounds since 2019. This capital is intended for hiring senior leadership, expanding its data science and technical teams, and entering new markets in Asia, India, and Europe. Key partnerships have been established with major industry players such as Universal Music Group, SoundExchange, Napster, and The Mechanical Licensing Collective (The MLC) to enhance fraud detection capabilities across the industry. Headquartered in Vancouver, Beatdapp also maintains offices in Los Angeles and Toronto.