The Los Angeles based technology startup supported creators during the ongoing pandemic and economic devastation . The music distribution and payment platform, Stem has raised $10 million in the new funding to pay royalty to the independent artists.
The Stem has been leading the way to take substantive actions against racial injustice and company-wide days of learning about the topics like Blackout Tuesday and white supremacy. This has resulted in the formation of soppocial impact and integrating the donation of more than $2,000 to support Black Lives Matter La, We THE Protesters and Trangender Law Center.
The company has also empowered its artists to take action by using platform’s split technology to allocate a percentage of their earnings to support the causes We THE Protesters, the NAACP legal Defence fund, Southern Poverty Law Center, the Bail project and Black Vision Collective. The company has also transformed its interior office walls to feature a mural honoring every Black individual who has died recently.
Milana Rabkin Lewis , Stem’s CEO said, “Stem stands for clarity, accountability and independence. We see a terrible historic pattern where the police are rarely held accountable for excessive use of force and opacity is used as a tool of oppression asd we feel a responsibility to speak up about these injustices for a myriad of reasons, one of which simply being that Stem wouldn’t exist without Balck art and either would the music industry at large.”