LOS ANGELES–( COMPANIES WIRE)– Wrapbook which powers payroll, insurance coverage, and compliance for the show business today announces$3.6 M in Seed funding for its software application platform that drastically simplifies the grinding and labor-intensive process of onboarding, paying and guaranteeing film and production crews. Wrapbook looks for to be the premier payroll processing platform for the show business, which incorporates TV, film, commercial production, and live occasions, and is worth $181 billion, according to the Motion Picture Association. The overwhelming majority of entertainment payroll is processed manually.
Wrapbook automates payroll filings and tax payments, determining both federal and regional taxes in all 50 states. As one of the few entertainment-compliant payroll business in America, Wrapbook calculates company fringes and complicated timecards correctly, while collecting union pension and health benefits. When it’s time to wrap, Wrapbook makes payroll and unloading employees digitized and seamless, so those managing productions can concentrate on what matters most: producing captivating stories.
Normal production team paperwork processes need 2 to 5 on-set payroll coordination workers to onboard cast and team, and approximately 5 days of post-production payroll estimations to wrap a task. This effects production budget plans, and drains pipes hours of production time, since essential files are completed in-person, and on-set. Wrapbook’s digital onboarding tool makes it easy and fast for manufacturers to establish the cast and team, typically days or weeks prior to shooting, saving hours of startup and administrative paperwork. In times of COVID, anything that can get rid of in-person paperwork likewise helps to protect the health and well-being for cast and team.
“Wrapbook is the easiest method for companies to compliantly pay employees for a week of work,” says Wrapbook Co-Founder and CEO Ali Javid. “We are here to assist employees and companies be paperless to help with COVID-19 and be AB5-compliant in entertainment and throughout project-based markets,” Javid says.
“Among the most stressful elements of working in film and production is questioning whether you’re going to get spent for your task,” says Wrapbook Co-Founder, CMO Cameron Woodward, who formerly founded a movie and production insurer. “Wrapbook improves the company and simplifies of production from start to end up, which is why we‘ve had the ability to achieve such prolific word of mouth adoption of our software application,” Woodward says.
“Wrapbook is the very first and only platform of its kind to welcome the employee, enabling them to develop and own a totally portable digital profile that safely shops banking details, tax identification, and other essential HR compliance records,” says Equal Ventures General Partner Richard Kerby, who led financial investment in the Seed Round. “Consumers love that the Wrapbook group has integrated its deep knowledge of the innovative industry with an outstanding technical stack to completely reimagine the tiresome process of setting up distributed groups,” says Kerby. “We’re extremely excited to be part of Wrapbook’s journey to change the future of work,” says Kerby. Wrapbook likewise received funding from Equal Ventures, Uncork Capital, founder of Paylocity Steve Sarowitz, FOUR Bay Partners.
Wrapbook offers digital profiles that facilitate certified onboarding, payment and insurance coverage for companies and project-based workforces in entertainment. Wrapbook enables creatives to focus more on their work and invest less time on complex systems of compliance. Wrapbook is led by a veteran starting group whose deep experience incorporates film and production, payments, and the insurance coverage industry. Wrapbook has workplaces in Los Angeles, New York City, and Toronto.
Ali Javid, Co-Founder & & Chief Executive Officer
Formerly Ali was VP of Organisation Development at Body Labs, a leading maker discovering innovation startup which offered to Amazon.
Naysawn Naji, Co-Founder & & Chief Product Officer
Naysawn was formerly the Chief Innovation Officer of Arcus Financial. Arcus is a leading payments platform for banks and retailers.
Hesham El-Nahhas, Co-Founder & & Chief Innovation Officer
Hesham was formerly the Lead Backend Engineer of Arcus Financial. Arcus is a leading payments platform for banks and retailers.
Cameron Woodward, Co-Founder & & Chief Marketing Officer
Formerly Cameron was the managing partner of Movie Casualty Insurance Company and Co-Founder of Sprinkle Lab a leading commercial video production company.