Wrapbook, a financial services startup whose tools are used for production payroll, has released a new mobile app on the heels of raising $100 million in Series B funding.
Jeffrey Katzenberg’s WndrCo and Michael Ovitz are among the backers of the company. According to data provided to Deadline, the company’s workforce has expanded from 20 to more than 140 over the past year. Employees with backgrounds at Amazon, Facebook, Shopify and Microsoft have signed on with Wrapook. Also over the past year, there has been a sharp increase in the number of users being paid by two or more employers on the platform, to 30% from 12% last March.
The company targets the “project economy,” a broad heading that includes film and TV production.
“Project-based work is a vital part of our economy, yet it’s historically underserved by traditional financial services,” Wrapbook CEO Ali Javid said. “Our mission is to create easy-to-use financial service solutions that support and increase the prosperity of the project economy. Providing cast and crew a simple, all-in-one solution to juggle projects and employers was a no-brainer for us.”
The Wrapbook app aims to help cast and crew complete onboarding, submit timecards, and track pay. It offers touch and face ID and helps users track various filings as they pass through the system.
After an initial raise of $27 million in March 2021, the company closed a $100 million Series B funding round in the fourth quarter of 2021, led by investment firm Tiger Global Management. Commitments from new and existing investors, among them WndrCo, Andreessen Horowitz, A*, Uncork Capital and Equal Ventures, boosted Wrapbook’s valuation to $1 billion.
Along with Javid, the company’s exec team includes Chief Marketing Officer Cameron Woodward, Chief People Officer Hesham El-Nahhas and Chief Innovation Officer Naysawn Naji.
The company describes itself as “remote-first,” with offices in LA, New York and Toronto.
Here’s a look at the mobile app and the main online dashboard:
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