The cloud-based content, contract and rights management service has closed a $20m equity investment from Insight Venture Partners, the private investors who backed Twitter and Tumblr.

Insight Venture Partners managing directors Peter Sobiloff and Nikitas Koutoupes will join FilmTrack’s board of directors, as will FilmTrack strategic advisor and former Miramax CEO Mike Lang.

FilmTrack’s portfolio of services ranges from tracking rights windows and IP ownership through the multi-platform distribution cycle to monetising unexploited revenue streams. Clients includes Lionsgate, Focus Features, TWC, Starz, Screen Australia and Relativity Media.

“We’re excited to partner with the Insight team to accelerate our growth and accommodate our clients’ exponentially expanding needs to better manage their intellectual property, content and data,” said FilmTrack CEO Jason Kassin (pictured).

“Wider distribution via mobile and the internet has exploded licensing and viewership opportunities – we help clients reap the benefits from this trend.

“We are also delighted to further our collaboration with Mike Lang who has been an invaluable advisor to the company in many ways since 2012 including this game-changing capital raise. With our new board and this capital infusion, FilmTrack is poised to capture a new wave of expansion.”

“FilmTrack has established a very impressive niche in delivering innovative business solutions to the media sector at a time of rapid transition to digital technology,” said Insight Venture Partners’ managing director Sobiloff. “We look forward to working closely with Jason and his team to further scale the business, expand their global client base and broaden the company’s reach into new verticals.”

“I know from first-hand experience that FilmTrack is the long-awaited platform that will enable film and television companies to effectively and efficiently manage their IP from inception to long-tail release,” said Lang. “The company solves an issue that content publishers have been dealing with for years.”