Entertainment industry technology company FilmTrack has received $5.5 million in series C funding from Insight Venture Partners.

The Studio City company has now raised a total of $40 million for its content rights management product used to track royalties, increase collaboration on projects and find revenue opportunities.

FilmTrack Chief Executive Jason Kassin said the new funding shows New York-based Insight Venture’s commitment to the core business model and future growth.

“We look forward to putting this capital into our platform in order to accelerate our positioning as the clear leader for rights management within the media and entertainment industry,” Kassin said in a prepared statement.

This latest round of funding is earmarked for major product enhancements – including an expanded reporting and analytics tools and a deepening of finance and accounting capabilities.