Imagine Impact, a dynamic creative platform, has recently announced the closing of its Series A funding round led by Silicon Valley’s venture capital firm, Benchmark. Other powerhouse investment portfolio of Benchmark includes Zillow, Yelp, Uber, Stitch Fix, OpenTable, Nextdoor, Instawork, Hipcamp, and eBay.
According to Brian Grazer, Imagine Impact’s Founder, the company is excited to partner with Benchmark, that has maintained a track investment record in various marketplaces and companies.
Ron Howard, Founder of Impact, also has stated that the recent funding round will allow the company to significantly enhance the popularity of storytellers and drive their connection with the entertainment industry.
Following the investment, Impact will be established as Impact Creative Systems, a standalone company, and will continue to support the technological expansion strategy of the startup. In addition, the company is expected to launch ‘The Creative Network’, an online marketplace & professional networking platform. The platform has been specifically designed to help entertainment industry professionals gain greater access to Hollywood.
As per the statement made by Impact’s CEO, Tyler Mitchell, the company has been initially developed as a content accelerator to increasingly discover talent and provide them with access to the entertainment industry. In order to reach this target, it has built new systems and technology to showcase the talent and connect them to the global market.
Benchmark’s General Partner, Bill Gurley, has cited that the old way of hiring talent by the talent evaluators in the entertainment industry was based on the people they know, which creates high barriers for fresh voices to enter the industry. To break these barriers, Impact has developed a marketplace model that improves the understanding and reduces the information asymmetry, ultimately offering high opportunities for everyone involved.
The recently announced Series A funding round happened along the heels of Impact’s deal with Netflix to utilize its proprietary system to source original feature films from various writers across the globe as well as its launch of ‘Impact Australia’.