HCAP Partners, a California-based private equity firm and impact investor, invested in 5th Kind, a developer of collaborative media solutions and digital tool sets for Hollywood studios. The funding will help accelerate the company’s growth and support demand for its digital asset and workflow management platform. In addition, Tim Bubnack, managing partner at HCAP, will join 5th Kind’s board of directors. Terms of the investment were not disclosed.
5th Kind is a developer of workflow management software that supports remote workflows, digital collaboration and media/digital asset management needs. CORE by 5th Kind is a web-based digital asset management and workflow application that offers asset storage, review, approvals, distribution and live meetings. Earlier this year, 5th Kind entered technology partnerships with Box and Amazon Web Services.
“HCAP is providing capital and resources to help further the rapid growth and expansion of the company’s customer base as well as to support its new relationship with Box,” Bubnack said. “We are excited to work with the 5th Kind team to develop opportunities to provide its software to the world’s most recognizable consumer brands and businesses, all of whom are in need of a scalable and secure platform to create, collaborate, launch and manage their growing number of digital assets.”
“Since 2007, 5th Kind has been working hard to understand how information flows around an organization and the ripple effects of decision making. CORE delivers significant ROI to our clients. For instance, some of our studio clients save up to $1.5 million per production with a large portion of that due to the ability to find and reuse assets. We’ve seen an increase in value delivered as work-from-home and remote production needs increased this past year,” Steve Cronan, CEO and founder of 5th Kind, said. “HCAP’s commitment to 5th Kind allows us to invest in all areas of the business to deliver great tools that support our clients whilst continuing to innovate and be a significant player in the future of work.”
