Wrapbook hits billion dollar valuation

Wrapbook, the provider of payroll, insurance, and compliance for the entertainment industry, announced a $100 million Series B investment round led by Tiger Global Management, with new and existing investors, Andreessen Horowitz, Jeffrey Katzenberg’s WndrCo, Uncork Capital, and Equal Ventures.

Founded in 2018, Wrapbook is currently supporting over 1,000 projects per month nationwide. The usage of its worker profile feature, which allows cast and crew members to create profiles and submit payment requests, has been growing – workers utilizing their profile across more than two employers reached 23% in 2021, up from 12% in 2020.

The startup started by targeting the film industry but it has expanded into other sectors including photography and live events.

“We are gratified by the confidence demonstrated by our returning investors and the addition of Tiger Global Management and A*. It is a reflection of our massive growth and product adoption by producers and cast and crew alike.” – Ali Javid, Wrapbook co-founder and CEO.

“With the new funds, Wrapbook will continue building out the platform and team to support the needs of major studios, networks and production companies across television, film, commercials and live events.” – Cameron Woodward, Wrapbook co-founder and CMO.

“Wrapbook is well positioned to meet the post-Covid demands of an entertainment industry eager for an all-in-one software and financial services platform that will catapult them into the 21st century. Their robust revenue and profile growth demonstrates that Wrapbook is tracking to be the default platform for entertainment finance.” – John Curtius, Partner at Tiger Global Management.

Bottom Line: Commercial insurance won’t be commoditized, it will be channelized, and Wrapbook, which we covered way before it became a horse with a horn, is a perfect example of that.