FilmTrack, a Studio City, CA-based provider of content and rights management platform for the worldwide media and entertainment industry, secured an additional US$10m in growth capital.
The new investment is comprised of US$5m in venture debt financing from Wellington Financial and US$5m in debt financing from Silicon Valley Bank.
The company intends to use the funds to increase production innovation, expand into new markets, both vertically and geographically, and to acquire strategic technologies and services.
Led by CEO Jason Kassin, FilmTrack provides a cloud-based platform that streamlines the complex intellectual property management lifecycle. Its applications suite spans sales, finance and legal functions and is available from any connected computer or device.
The company’s solutions are used by media and entertainment companies, such as CBS, HBO, DreamWorks Animation, Endemol, National Geographic, eOne and Miramax.
FilmTrack is backed by venture capital investors Insight Venture Partners and the Sandberg-Goldberg Trust.