Conduiit, Inc. Secures $1 Million in Pre-Seed Funding to Revolutionize Production Accounting in Film and Television
Summary
Working with major networks including Amazon, Discovery, Netflix, and HBO, the fintech platform is on a mission to modernize production finance in the entertainment industryNEW YORK, November 30, 2023--(BUSINESS WIRE)--Today, Conduiit, Inc., a cutting-edge cloud-based FinTech platform designed to offer a one-stop shop for boosting profitability in film and television productions, announced the closing of $1 million in pre-seed capital. Enterprise software providers have created a mismatch of services that require expensive personnel labor, reduce efficiencies, and complicate the processes necessary to secure tax incentives. The larger the studio, the more detrimental these inefficiencies are to the bottom line.Founded by industry veterans Shawn Hamilton and Jason Thurman, Conduiit was created to reduce deficiencies, cut labor costs, and automate the process through a central platform. Conduiit is poised to play a pivotal role in reshaping the financial landscape of the entertainment industry, bringing efficiency, transparency, and profitability to film and TV productions. By creating a platform that reduces labor costs, inefficiencies, and errors, Conduiit is bringing production finance into the 21st century," said Drew Glover, General Partner at Fiat Ventures.