Wrapbook raised $27 million in a Series A funding round led by Andreessen Horowitz, Equal Ventures, Uncork Capital, Jeffrey Katzenberg’s WndrCo and Michel Ovitz.
Wrapbook has a platform and software that helps productions companies pay and insure cast and crew.
Katzenberg is the former Disney executive last seen launching and folding Quibi, the short-form mobile video streaming site. Ovitz was also briefly a top Disney exec as well as a top agent.
“It’s time we bring production financial services into the 21st century,” said Jeffrey Katzenberg, managing partner WndrCo. “We need a technology solution that will address the increasing complexities of production onboarding, pay and insuring cast and crew, only exacerbated by COVID-19, and I believe that Wrapbook delivers.”
Wrapbook said it is focused on solving the unique challenges that project driven industries face. Since launching during the COVID-19 pandemic, it says its revenue has increased sevenfold across TV, film, live and commercial productions. Wrapbook says that 12% of the workers on its platform have re-used their profile in order to be paid by two or more employers.
“We are replacing what has essentially been a paper driven process with a completely digital system in order to increase prosperity for both employees and employers. Our goal is to replace the pain points of the current cobbled together approach with an easy-to-use platform that meets everyone’s needs,” said Cameron Woodward, co-founder and CMO of Wrapbook.
In addition to Woodward, the founders of Wrapbook include: Ali Javid, co-founder & CEO; Hesham El-Nahhas, co-founder & chief technology officer and Naysawn Naji, co-founder & chief product officer.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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