FilmTrack $20m backing from Insight
FilmTrack, a provider of content and rights management for the film and television industry, has closed a $20 million equity investment from global growth equity investor Insight Venture Partners. FilmTrack will use the proceeds to support rapid growth as it expands the global roster of clients using FilmTrack to better manage and monetise their intellectual property. The investment comes as media companies are increasingly shifting towards FilmTrack’s software platform to streamline their IP supply chain and license sales activities.
As part of the transaction, Peter Sobiloff and Nikitas Koutoupes, managing directors at Insight Venture Partners, will be joining FilmTrack’s Board of Directors. The company also announced that Michael Lang, who has been an active strategic advisor to the company since 2012, has joined FilmTrack’s Board of Directors.
“We’re excited to partner with the Insight team to accelerate our growth and accommodate our clients’ exponentially expanding needs to better manage their intellectual property, content and data. Wider distribution via mobile and the Internet has exploded licensing and viewership opportunities – we help clients reap the benefits from this trend,” said Jason Kassin, CEO at FilmTrack. “We are also delighted to further our collaboration with Mike Lang who has been an invaluable advisor to the Company in many ways since 2012 including this game-changing capital raise. With our new Board and this capital infusion, FilmTrack is poised to capture a new wave of expansion.”
FilmTrack offers cloud-based enterprise-class solutions for content, contract, and rights management that enable film, video and television publishers to manage the entire intellectual-property lifecycle – from inbound script to optimising global distribution agreements and capturing unexploited revenue streams.
Michael Lang, joining FilmTrack’s Board of Directors, commented: “I know from firsthand experience that FilmTrack is the long-awaited platform that will enable film and television companies to effectively and efficiently manage their IP from inception to long-tail release. The Company solves an issue that content publishers have been dealing with for years.”