Rightscorp, which helps owners of copyrighted intellectual properties get paid, has sold $2.7 million worth of common stock in an effort to bring the Santa Monica company into the black.

“We are confident this funding, at a time when pre-release piracy is on a rise, will accelerate our path to profitability and help us realize our vision that digital creative works should be protected economically,” said Rightscorp Chief Executive Christopher Sabec in a statement.

Rightscorp’s second quarter revenue for this year boomed to more than $250,000, a 377 percent increase from the previous year. But Rightscorp continues to struggle with turning a profit, posting net losses every quarter since its 2011 launch.

The company said it has closed more than 100,000 copyright infringement cases. It works with motion picture studios, recording artists, televisions show and artists and currently represents 1.5 million copyrights.

Staff reporter Melissah Yang can be reached at [email protected]. Follow her on Twitter @MelissahYang for the latest in L.A. tech news.