The Royalty Exchange, a two-year-old firm focused on the valuation and sale of music royalties, lands $2.1 million in venture capital funding from Grotech Ventures.

Royalty Exchange provides an online auction platform that enables artists, buyers and sellers to cash in on music rights.

The startup, which launched in 2011, is based at HUBRaleigh.

“With the worldwide explosion of entertainment properties and distribution platforms, demand for music content is growing exponentially, meaning more royalties paid to rights holders and rising valuations of song and catalog assets,” said Sean Peace, the chief executive officer and co-founder of The Royalty Exchange. “As an innovator in this space, we feel extremely confident about our ability to maximize value for songwriters and producers while also enabling buyers to make sound, long-term investments.”

The Exchange says it is “the world’s first online platform for the valuation and sale of music royalties and the income generated from songwriting, producing and publishing.”

Grotech is based in Washington, D.C. and has more than $1.3 billion under management.