Wrapbook is a payroll, insurance, and compliance provider which serves media production companies in the entertainment industry. The company has offices in the US and Canada. It allows cast and crew members to get paid for project-based production work. Wrapbook plans to extend its services to other industries in the future. In April 2022 , the company also released a mobile app that enables production crews and staff to complete onboarding processes, submit timecards, and track payroll payments, secured by touch and face ID. Over the 12 months preceding March 2022, Wrapbook’s headcount has expanded to 140 from 20, and the number of users being paid by two or more employers on the platform has increased to 30% from 12%.The company claims its revenue has grown sevenfold in 2020.
In November 2021, Wrapbook raised USD 100 million in a Series B funding round led by Tiger Global Management with participation from Andreessen Horowitz, A*, WndrCo, Uncork Capital, and Equal Ventures. The round followed the company’s USD 27 million Series A funding round in March 2021 and brought its valuation to USD 1 billion. The company planned to use the funds to expand its platform and team to service major studios, networks, and production companies in television, film, commercials, and live events.
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