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Wrapbook Raises $20M to Simplify Production Finance and Payroll for the Entertainment Industry
- Wrapbook has raised $20M in a Series B extension round, led by Bessemer Venture Partners.
- Wrapbook offers a modern, all-in-one solution for production finance and payroll, tailored specifically for the entertainment industry.
- The platform empowers finance and accounting teams with real-time information, streamlining payroll processing and fostering collaboration while ensuring compliance.
- Wrapbook handles entire productions from pre-production to wrap, making it a seamless addition to existing tech stacks.
- The platform’s versatility has attracted a diverse clientele, from major studios to independent productions, resulting in impressive growth with over 1000 companies now using the service and a 50% year-over-year revenue increase.
- Wrapbook was inspired by the challenges faced by production finance teams who work under immense pressure with outdated, fragmented systems.
- Wrapbook stands out through its combination of next-gen technology and a modern service model.
- Wrapbook targets the entertainment industry, specifically production finance teams across film, TV, commercials, and live events.
- Wrapbook operates on a transactional pricing model where they charge a percent of wages processed.
- Over the next six months, Wrapbook plans to expand its product offerings and continue growing its client base.
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