Conduiit, a fintech startup that promises to save entertainment companies time and money by centralizing their production finance operations, has raised $1 million in pre-seed funding.
He saw how production companies were using a hodgepodge of services to manage day-to-day transactions, as well as managing individual productions in silos, resulting in lost time and wasted expense.
ConduiitCharging on a SaaS model, Conduiit lets production companies access all their compliance, management, accounting, and payment tools from a single platform.
"There are two Black founders in a world that doesn't have a lot of them," said Glover of Hamilton and Thurman.
Only about 1% of venture funding in 2022 went to Black startup founders, according to Crunchbase data analyzed by TechCrunch .
Persons:
Hiro Mizushima, Shawn Hamilton, Hamilton, Hamilton's, Jason Thurman, who's, HBO Max, Max, John Oliver, Drew Glover, Glover, Thurman, we're
Organizations:
Fiat Ventures, Aperture Venture, Business, Amazon, Netflix, Disney, HBO, Jigsaw, Laylow Productions, Productions, Silicon Valley Bank, Fiat, TechCrunch
Locations:
Silicon, Hollywood