StudioNow, the leading content production marketplace for top brands, agencies and media companies, announced the launch of Octerra, a SaaS marketing procurement solutions company. Spun out as a standalone entity, Octerra empowers marketers to make their entire production ecosystem more transparent, efficient, and diverse.

StudioNow CEO and Founder, David Mason, will continue to lead StudioNow and will also become Chairman of Octerra. David Corts, StudioNow’s longtime President, and COO will become CEO of the newly established Octerra.

“For the past 12 years, StudioNow has been instrumental in helping large brands and media companies scale up content creation,” said Mason. “We created Octerra to solve a clear challenge facing the industry: the current model for sourcing, procuring and managing the production process continues to be slow, manual and costly.”

Octerra is the only solution for both the buy-side and sell-side of the production ecosystem. Its streamlined, one-stop platform delivers a transparent bidding process where the selection of production vendors, pricing, and best value are revealed in an unbiased, trustworthy manner. The Octerra software developed in-house at StudioNow over the past three years, is already being used by some of the world’s premier brands including Mastercard and AB InBev, among others.

Octerra also provides a collaborative workspace that centralizes workflows around every aspect of the vendor management, production sourcing, and creative bidding processes, enabling brand marketers and agencies to boost productivity, make better procurement decisions, finalize contracts faster, and track supplier diversity.