Wrapbook raises $3.6 million
Wrapbook , a provider of payroll, insurance, and compliance for the entertainment industry, has raised $3.6 million in a round led by Equal Ventures, with participation from Uncork Capital, founder of Paylocity, Steve Sarowitz, and other undisclosed investors.
Founded in 2018 and formerly known as TakeOne, the NY-based startup offers a platform that “radically simplifies the grinding and labor-intensive process” of onboarding, paying and insuring film and production crews.
With the “overwhelming majority” of entertainment payroll processed manually, Wrapbook seeks to be the premier payroll processing platform for the entertainment industry, which encompasses TV, film, commercial production, and live events, and is worth $181 billion, according to the Motion Picture Association.
In terms of insurance, Wrapbook offers workers’ comp and production insurance that protects the project, crew, and equipment. All production insurance is provided through Workers Insurance Agency.
“Wrapbook is the easiest way for employers to compliantly pay employees for a week of work. We are here to help employers and employees be paperless to assist with COVID-19 and be AB5-compliant in entertainment and across project-based industries.” – Co-founder and CEO of Wrapbook, Ali Javid.
“One of the most stressful aspects of working in film and production is wondering whether you’re going to get paid for your job. Wrapbook simplifies and streamlines the business of production from start to finish, which is why we’ve been able to achieve such prolific word of mouth adoption of our software.” – Cameron Woodward, co-founder, and CMO of Wrapbook.
“Wrapbook is the first and only platform of its kind to embrace the worker, enabling them to create and own a fully portable digital profile that securely stores banking details, tax identification, and other essential HR compliance records. Customers love that the Wrapbook team has combined its deep knowledge of the creative industry with an impressive technical stack to completely reimagine the tedious process of setting up distributed teams. We’re very excited to be part of Wrapbook’s journey to transform the future of work.” – Equal Ventures General Partner Richard Kerby.
