The investment was made by HCAP Partners, which invests between $2 million to $15 million in established businesses generating up to $100 million in revenues.
The funds will be used to accelerate business growth and product enhancements for the company to expand into areas of business beyond Hollywood, said 5th Kind Chief Operating Officer Robert Crotty.
5th Kind, which has deepened its ties with Hollywood during the pandemic, is looking to adapt its workflow backbone to the health care, manufacturing and software industries.
The software management tool developed by 5th Kind has been used on more than 100 movie productions across Hollywood's major studios and gaming companies.
HCAP Managing Partner Tim Bubnack joined 5th Kind’s board of directors.
5th Kind develops digital toolsets for Hollywood’s top studios, such as New York-based Marvel Entertainment, a unit of Burbank-based Walt Disney Co.; Universal City-based Universal Pictures, a studio owned by Philadelphia-based parent Comcast Corp. through its NBC Universal unit; and Burbank-based studio and film business Warner Bros. Entertainment Inc.
It also works with Plano, Texas-based Toyota Motor Sales USA Inc. and Franklin, Tenn.-based Nissan North America Inc. to manage remote workflows, digital collaboration and media and digital assets.
5th Kind’s secure, web-based digital asset management and workflow application offers asset storage, review, approvals, distribution, and live meetings in one space.
Earlier this year, 5th Kind announced technology partnerships with Box Inc., a Redwood City-based cloud content management firm, and Seattle-based Amazon Inc.’s cloud computing platform business, Amazon Web Services.
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