San Diego - RoyaltyShare, a provider of Web-based digital royalty processing and reporting services for the entertainment industry, announced on Monday that it has raised $5 million in its second round of venture capital financing, led by Trident Capital.

The company said it is also in discussions with other potential investors, and may raise additional funds for the round.

Launched last year, San Diego-based RoyaltyShare offers record labels, music distributors and music publishers online software that manages royalty  processing and payments.

The company will use the funds to expand its operations, with new offices planned for New York, Los Angeles and Europe later this year, as well as to add support staff for record label customers, and development of new services.

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