KitSplit, which operates a peer-to-peer market for inventive gear, is asserting that it’s raised $2.1 million in seed funding.
The gear accessible for rental can embody cameras, lights and lenses, but additionally VR gear and drones. Renters get entry to this gear for a cheaper price (CEO Lisbeth Kaufman estimated mentioned KitSplit normally prices 30 to 50 % lower than conventional leases), whereas the gear house owners get to make some more money from gear once they’re not utilizing it.
The service has around 30,000 members and acquired one of its competitors, CameraLends.
Customers include NBC, Vox and National Geographic. According to Kaufman (daughter of Troma co-founder Lloyd Kaufman), KitSplit is being used in all kinds of productions, but some of the strongest interest is coming from digital media companies as they try to the meet the constant demands of online video production. (The industry’s “pivot to video” may be hitting a rocky patch, but the need for video content isn’t going away.)
Investors in the seed round include HearstLab (which also invested in KitSplit’s pre-seed funding), Entrepreneurs Roundtable, 3311 Ventures, NYU Innovation Venture Fund, WTI and Instagram co-founder Mike Krieger.
Among other things, the funding should help KitSplit continue to expand its presence in Los Angeles — users can rent gear anywhere in the United States, but the company is currently focused on the NYC and LA markets.
Eventually, Kaufman said she wants KitSplit to become a “one-stop shop for content creators.”
“We’re reimagining the Hollywood production studio as a local marketplace,” she added. “We want to make resources like gear and staffing and location more accessible to all content creators.”
Budelis pointed to things like KitSplit’s insurance options, its concierge service (to help with the logistics of actually transporting the equipment) and its events as early signs of how the company is “starting to dabble” in areas beyond just being a marketplace.
Update: An earlier version of the story described KitSplit as a peer-to-peer marketplace, but Budelis said that’s not quite accurate anymore, since there are now businesses among the renters and the equipment owners.