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Los Angeles-based FilmTrack, a company that makes software for storing and managing intellectual property, announced today that closed a $10 million “growth round.” Half of the money came from Wellington Financial LP, and the other half from Silicon Valley Bank; both bets were debt financing capital.
FilmTrack’s software helps media and entertainment enterprises track every aspect of their visual inventory, from the moment the idea is created to the development process and distribution. Companies, for example, can use the tool to determine whether a license allows distribution rights to a sitcom for a specific country and language.
With companies in its portfolio like HBO, DreamWorks, National Geographic, Miramax, and CBS, film and television professionals seem to have seen the advantages of the software.
The growth capital, CEO Jason Kassin said, will allow FilmTrack to expand to other international markets and improve its technology. However, the CEO told VB that the expansion plan also includes a move into new verticals, such as the management of non-media products.
“We want to take what we’ve done with film and TV and transfer to products,” said the CEO. “Some of our clients also sell the t-shirts and manage distribution, [and it] is an area that will allows us to grow.”
The Studio City, California-based startup has raised at least $40 million to date and acquired Jaguar Consulting in 2014 and Dashbox earlier this year. Kassin said the capital will also fuel acquisitions of “strategic technologies and services.”
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