Financial services firm City National Bank has bought Stanford StartX-backed royalties payment platform Exactuals having led its series B round last year.
Stanford University’s StartX Fund has exited Exactuals, the US-based operator of a payment platform for entertainment royalties, in an acquisition by financial services firm City National Bank.
Financial terms of the acquisition have not been disclosed. Exactuals will become a wholly-owned subsidiary of City National – another of its venture capital investors – and co-founder Mike Hurst will remain CEO, having signed multi-year contracts alongside other executives.
Founded at Stanford University’s Graduate School of Business in 2011, Exactuals has created…
