Octopus Ventures Reading time: 2 mins

Octopus Ventures exits stake in We Got POP

3 Mar 2020

Acquisition by Entertainment Partners represents significant multiple on original investment

Octopus Ventures, part of Octopus Group and one of the largest VCs in Europe, has exited its investment in FilmTech start-up We Got POP.

FilmTech startup We Got POP (“POP”) has been acquired by Entertainment Partners, the end-to-end provider of production and workforce management solutions to the entertainment industry. Entertainment Partners is headquartered in LA and operates across the US and Canada. It is owned by TPG Capital, the private equity platform of global alternative asset firm TPG.

Founded by Irish entrepreneur and film industry veteran Kate McLaughlin, POP is the UK’s leading workforce and production management platform, which has built technology solutions driving towards a smarter, fairer future for the entertainment industry. It has revolutionised the way people in production are found, hired, managed and paid with portals that digitise production office processes, help manage risk and compliance complexity, connect the industry and provide open access to data and insights.

POP’s production portal has been widely adopted by the biggest and best production companies in the UK, including Sid Gentle Films who make Killing Eve, Caryn Mandabach Productions who make Peaky Blinders and Sky Studios who have committed to building a studio in Elstree and spend of £3 billion over 5 years from 2022.

POP’s casting portal powers more than 50% of casting in the UK including shows like 1917, Star Wars: Rise of Skywalker, The Crown (Season 3) and Judy. Following the acquisition, POP’s casting portal technology will power the legendary Central Casting agency, which in turn casts shows made across the US. Central Casting turns 100 years old in 2025 and is owned by Entertainment Partners.

Octopus Ventures’ Titan VCT first invested in We Got POP in 2017, participating in the company’s seed round.

Zoe Chambers, Investor at Octopus Ventures, said:

“It’s a privilege to have been part of the journey with Kate and her team at We Got POP. They have built a brilliant business and this acquisition from a global player with huge growth ambitions is testament to that. We wish them all the best for the future.”

Kate McLaughlin, CEO and founder of We Got POP, commented:

“I really value the partnership of Octopus Ventures over the last three years.  They have provided access to experience and expertise through their venture partners and broader network that have played an important role at critical moments in our journey. The opportunity to work with Entertainment Partners and take the We Got POP platform global was too good an opportunity to miss. We are all super excited about what we can achieve together.”

–Ends–

For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. We do not offer investment or tax advice. Issued by Octopus Investments. Octopus Ventures is part of Octopus Investments Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 33 Holborn, London, EC1N 2HT. Registered in England and Wales No. 03942880. Issued: March 2020.

Share