KitSplit Company Profile

Background

Overview

Founded in 2014, KitSplit is a peer-to-peer rental marketplace that connects filmmakers, photographers, and other visual content creators with owners of high-quality equipment. Dubbed the "Airbnb of cameras," the platform enables users to rent cameras, lenses, lighting, and other production gear from a community of vetted professionals, including production companies, individuals, and rental houses.

Mission and Vision

KitSplit's mission is to democratize access to filmmaking equipment, empowering creators to bring their projects to life regardless of budget, background, or location. The company envisions a world where every visual creator can pursue their vision and tell their story with ease and affordability.

Industry Significance

By streamlining the rental process and fostering a community-driven marketplace, KitSplit addresses the needs of a growing number of content creators seeking flexible and cost-effective solutions for equipment access. The platform's innovative approach has positioned it as a significant player in the media production industry.

Key Strategic Focus

Core Objectives

• Democratization of Equipment Access: Making high-quality production gear accessible to a broader range of creators.

• Community Building: Fostering a trusted network of professionals for equipment sharing and collaboration.

• Streamlined Rental Process: Simplifying the logistics of renting equipment through a user-friendly platform.

Areas of Specialization

• Peer-to-Peer Rentals: Facilitating direct rentals between equipment owners and renters.

• Comprehensive Inventory: Offering a wide range of equipment, including cameras, lenses, lighting, and VR/AR gear.

• Insurance and Security: Providing damage and theft coverage to protect both owners and renters.

Key Technologies Utilized

• Machine Learning Algorithms: Employed in the vetting process to ensure a trustworthy community.

• Online Platform: A robust website that allows users to list, browse, and rent equipment seamlessly.

Primary Markets Targeted

• Independent Filmmakers and Photographers: Individuals seeking affordable equipment rental options.

• Production Companies: Organizations requiring additional gear for specific projects.

• Media Companies: Entities like NBC, National Geographic, and Hearst that have utilized KitSplit's services.

Financials and Funding

Funding History

KitSplit has raised a total of $5.46 million in funding.

Notable Investors

• Fantail Ventures

• HearstLab

• Mike Krieger

• NYU Entrepreneurial Institute

• Western Technology Investment

Utilization of Capital

The funds have been allocated towards platform development, expanding the equipment inventory, enhancing user experience, and implementing robust security measures.

Pipeline Development

Key Developments

• Acquisition of CameraLends (January 2017): This strategic move expanded KitSplit's inventory by 50%, solidifying its position as a leading rental marketplace.

• Launch of KitSplit Plus (Date Not Specified): A program designed to streamline large rental needs by providing dedicated rental agents to assist users.

• Introduction of Theft Protection Owner Guarantee (June 2019): An initiative to cover owners in cases of theft by renters, addressing previous gaps in insurance coverage.

Technological Platform and Innovation

Proprietary Technologies

• Custom Vetting System: A 40+ point risk assessment combining machine learning algorithms and human review to ensure a trustworthy community.

Significant Scientific Methods

• Machine Learning Algorithms: Utilized in the vetting process to analyze data and prevent fraudulent activities.

Leadership Team

• Ken Amarit: Co-Founder and CEO.

• Kristina Budelis: Co-Founder and President.

• Lisbeth Kaufman: Co-Founder and Board Member.

Professional Backgrounds

• Ken Amarit: Brings expertise in technology and product development.

• Kristina Budelis: A visual storyteller with experience in media and content creation.

• Lisbeth Kaufman: A photographer and producer passionate about supporting the creative community.

Key Contributions

• Ken Amarit: Oversees technological advancements and platform development.

• Kristina Budelis: Leads community engagement and content strategy.

• Lisbeth Kaufman: Focuses on strategic partnerships and overall company vision.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within KitSplit's leadership team.

Competitor Profile

Market Insights and Dynamics

• Market Size: The equipment rental market for filmmakers and photographers is substantial, with a growing number of content creators seeking flexible solutions.

• Growth Potential: The rise of independent content creation and digital media platforms contributes to increasing demand for rental services.

• Industry Trends: A shift towards peer-to-peer sharing economies and the need for cost-effective production solutions.

Competitor Analysis

• ShareGrid: A peer-to-peer rental platform founded in 2013, offering similar services with a focus on community engagement.

• BorrowLenses: Established in 2006, this company provides traditional rental services with a vast inventory and nationwide shipping.

• Lensrentals: Also founded