Wrapbook, A Production Payroll Startup With Hollywood Backers, Debuts Mobile App As Workforce Swells To 140 And Valuation Hits $1B

deadline.com:

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.