FilmTrack, a provider of content and rights management for the media and entertainment industry, has secured an additional USD10 million in growth capital.
The new investment is comprised of USD5 million in venture debt financing from Wellington Financial LP, a privately-held specialty finance firm, and USD5 million in debt financing from Silicon Valley Bank.
FilmTrack streamlines the complex intellectual property management lifecycle with its flexible and powerful cloud-based platform. Its applications suite spans sales, finance and legal functions and is available from any connected computer or device. Many of the world's top media and entertainment companies, such as CBS, HBO, DreamWorks Animation, Endemol, National Geographic, eOne and Miramax rely on FilmTrack to provide visibility and access to their valuable intellectual property.
FilmTrack CEO Jason Kassin says: "This additional capital gives us the ability to increase our production innovation and support our expansion into new markets, both vertically and geographically. It also enables us to continue to acquire strategic technologies and services."
Eric Speer (pictured) of Wellington Financial adds: "FilmTrack's impressive customer list demonstrates how important their cloud-based platform is in managing and monetizing intellectual property for many best-in-class companies around the world. Wellington's patient capital is the perfect fit for this high growth story."
