STUDIO CITY, CA and
TORONTO, Oct. 8, 2015 /PRNewswire/ - FilmTrack, the global
leader in content and rights management for the worldwide media and
entertainment industry, has secured an additional US$10 million in growth capital. The new
investment is comprised of US$5
million in venture debt financing from Wellington Financial
LP, a privately-held specialty finance firm, and US$5 million in debt financing from Silicon
Valley Bank.
FilmTrack streamlines the complex intellectual property
management lifecycle with its flexible and powerful cloud-based
platform. Its applications suite spans sales, finance and legal
functions and is available from any connected computer or device.
Many of the world's top media and entertainment companies,
such as CBS, HBO, DreamWorks Animation, Endemol, National
Geographic, eOne and Miramax rely on FilmTrack to provide
visibility and access to their valuable intellectual property.
FilmTrack CEO Jason Kassin said:
"This additional capital gives us the ability to increase our
production innovation and support our expansion into new markets,
both vertically and geographically. It also enables us to
continue to acquire strategic technologies and services."
Eric Speer of Wellington
Financial noted, "FilmTrack's impressive customer list demonstrates
how important their cloud-based platform is in managing and
monetizing intellectual property for many best-in-class companies
around the world. Wellington's patient capital is the perfect
fit for this high growth story."
FilmTrack is backed by venture capital investors Insight Venture
Partners and the Sandberg-Goldberg Trust.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance
firm providing term, venture and amortizing loans up to
$40 million. Wellington Financial LP
is currently managing a $900 million
investment program with offices in Silicon Valley, Santa Monica and Toronto. Wellington Financial LP is managed by
a partnership controlled by fund management and Clairvest Group
Inc. (CVG:TSX), who jointly have contributed a large financial
stake to the Fund. LPs include several of Canada's largest institutional investors,
crown corporations, financial institutions and pension funds.
Please visit the fund website at www.wellingtonfund.com.
About FilmTrack Corporation
For two decades, FilmTrack has been transforming the way the
media and entertainment industry monetizes, measures and delivers
its content and related assets across every point in the
intellectual property lifecycle. FilmTrack's cloud-based software
platform streamlines the complex intellectual property management
process – from project inception to distribution – and provides a
holistic view into critical data supporting rights, availabilities,
contracts, invoicing, licensing, revenue recognition, royalties and
workflow management. Backed by Insight Venture Partners, FilmTrack
serves as both a front and back office to hundreds of clients
worldwide including CBS, DreamWorks Animation, Endemol, eOne,
Miramax, National Geographic and Starz. Visit www.filmtrack.com to
learn more.
SOURCE Wellington Financial LP