All Things D
By: Arik Hesseldahl
To the growing list of specialized software that now runs in the cloud, you can add this: Tracking the usage rights for film and television companies.
The company that does it is FilmTrack, and today it announced that it has secured at $20 million investment from the private equity firm Insight Venture Partners.
FilmTrack’s cloud application is used by film and TV studios to track the use of their video troves in order to make sure they’re getting paid when someone shows a movie or licenses some part of it. FilmTrack’s customers include The Weinstein Company, Lionsgate, and the cable network Starz.
As part of the deal Peter Sobiloff and Nikitas Koutoupes, two managing directors at Insight, will join FilmTrack’s board of directors. Also joining is Michael Lang, the former CEO of Miramax Films.
Its the 15th investment by Insight Venture Partners, a private equity and venture capital firm based in New York, in a software-as-a-service company. Last month it invested $100 million in Anaqua, a cloud software firm specializing in the management of intellectual property including patents, trademarks, and trade secrets.
Read the original article here.