Wrap book is an all-in-one software platform for employers and their project-based workers. Tackle onboarding, timecards, payroll, and insurance with Wrap book, a powerful and easy-to-use platform for managing productions. Finally, entertainment payroll and production management were made easy.
Wrap book, a start-up that simplifies the payroll process for TV, film, and commercial productions, has raised $27 million in Series A funding from noteworthy names in both the tech and entertainment worlds. The round was led by Andreessen Horowitz, with participation from Equal Ventures and Uncork Capital, as well as from Windrow (the investment and holding company led by DreamWorks and Qubit founder/co-founder Jeffrey Katzenberg) and from CAA co-founder Michael Ovitz.
“It’s time we bring production financial services into the 21st century,” Katzenberg said in a statement. “We need a technology solution that will address the increasing complexities of production onboarding, pay, and ensuring cast and crew, only exacerbated by COVID-19, and I believe that Wrap book delivers.”
Due to about 40% of the population not having a credit history, Aplazo uses alternative data, such as open banking and telecom data. To gauge consumers’ creditworthiness and level of affordability, optimizing approval rates and providing suitable credit products to underserved consumers.
Today, they announced $27 million in Series A investment led by Oak HC/FT, with participation from existing investors Kaszek and Picus Capital. This gives the company total funds of over $35 million.
Wrap book, a breakthrough digital financial services solution for the project economy, continues to revolutionize production payroll with the launch of the Wrap book App, now available on the App Store. The Wrap book app eliminates the time-consuming, paper-based processes that permeate entertainment payroll and HR while empowering cast and crew with the mobile-first financial services demanded by today’s modern, mobile-first world.
The round was backed by Andreessen Horowitz, Equal Ventures, and Uncork Capital. Wrap book supplies businesses with a financial platform to handle an array of their processes including onboarding staff. Handling payroll, team management, and providing insurance to their employees.
Wrap book co-founder Cameron Woodward said. “We are replacing what has essentially been a paper-driven process with a completely digital system in order to increase prosperity for both employees and employers. Our goal is to replace the pain points of the current cobbled together. Approach with an easy-to-use platform that meets everyone’s needs.”
The series tech crunch previously raised $3.6m in its seed round last year. Contributions came from Equal Ventures and Uncork Capital.
Greenberg previously founded several companies, including systems integrators Scient and Vianet, which back by Kleiner Perkins. Sequoia Capital, Benchmark, Capital, and others. But the idea for Wrap Media initially grew out of a mobile social gifting app. He was the building that used a card-based user interface. As it turned out, the interface itself had more potential than the app. So he pivoted the company to focus only on that aspect of the business around a year ago.
It plans to launch a new insurance product aimed at “helping smaller businesses offer bigger benefits” that typically only enterprises can offer. The company also aims to help employers get money back for any unused benefits after paying a fixed amount each month. Ultimately, the goal is to offer a full suite of products that will allow companies of all sizes. From two employees to 20,000 provide better benefits for their teams.
Level claims that its self-insured dental and vision products let companies. Offer more coverage to their teams while often cutting nearly 20% of their benefits budget.
“Employers already spend so much money on benefits, and neither they nor their teams get enough out of it,” said Jana Messerschmidt from Lightspeed Venture Partners in a written statement. “Businesses of all sizes need to compete for talent with innovative benefits that help people get more from their paychecks. Level offers a far superior employee experience, and you’re getting bang for your buck.”
wrap book has over 100 plus features to make our work easy. It has features such as production insurance, direct deposits, loan-out payments, document sharing, etc. It has all the features we need today, but as our needs grow, we hope that the wrapped book expands its abilities. So far, they have been releasing updates as fast as we look for them.
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