According to Cinesite, the company has increased gross revenue by tenfold since 2014 off the back of content proliferation in the market thanks to the likes of Netflix, Disney+, Apple and Amazon.
Commenting on the investment, he said, “Securing this funding in the current uncertain climate is testament to the quality of our business and the position we have in the industry. It will enable Cinesite to move to the next level, benefitting our staff, customers and shareholders.” Commenting on the investment, David Munoz, Director of Technology, Media and Telecoms at NatWest Corporate Banking, explained, “We are delighted to be supporting Cinesite in their next phase of growth. Our position as a leading banking partner to the creative industries makes us the natural home for Cinesite.
Barclays has been the core banker at Cinesite since 2013. Richard Green, Relationship Director for Technology and Media, said, “We have a strong and longstanding relationship with Cinesite, so for Barclays to support them as they continue to establish themselves as a global player in a growing marketplace is important. It also underlines our ongoing commitment to this exciting sector and to working with clients who continue to innovate and grow in this arena.
Hans Oerlemans, managing director of Gryphion, added, “Seeing the achievements to date of the Cinesite business made it an easy decision for us to invest. The market served by Cinesite continues to present exciting growth opportunities as we foresee a strong increase in demand in the coming years. Cinesite is one of few leading providers that can consistently deliver the top quality that is needed in this market.