Seed&Spark, a Los Angeles, CA-based crowdfunding and digital distribution platform dedicated to independent film, closed $1m in seed funding.
The round was led by the Wadsworth Family investment fund Manitou Ventures with participation from producer and philanthropist Abigail Disney, Catapult Film Fun co-founder Lisa Kleiner-Chanoff, Spacestation Founder Matthew Mills, Mitro founder Vijay Pandurangan and angel investor Deborah Meijer, among others.
The company intends to use the funds to expand operations and pursue more distribution partnerships (it has just announced a distribution partnership with American Express.
Led by founder and CEO Emily Best, Seed&Spark is an independent film community where filmmakers and audiences join forces to fund, promote and watch new independent films. Its crowdfunding tool – the “WishList” – allows supporters to buy or loan specific items to a production. Every time an audience member supports a project, they earn rewards points called “Sparks” which they can spend to watch films on the streaming platform.
In addition to the funding, Julie Parker Benello (co-founder of Chicken & Egg Pictures and Gamechanger Films) and producer and Veritas Prep founder Chad Troutwine (Oscar-winning Undefeated, Freakonomics, Print the Legend) joined the company’s board this month.