Sonos Raises $135 Million
Sonos is a company that builds wireless music systems. The company has raised $135 million in a round of primary and secondary financing. This figure is more than double what they raised previously in total. Kohlberg Kravis Roberts led the round of funding along with investors Redpoint Ventures and Elevation Partners.
Sonos launched about a decade ago and they introduced their first product in 2005. Previous investors include BV Capital and Index Ventures. Index invested $25 million last year. One-third of the new funds ($45 million) in primary financing will go towards growth efforts for their multi-room music systems. Sonos hired a former RIM exec as the new head of global sales.
David Kerko of KKR and Fred Anderson of Elevation joined the board of directors at Sonos. Rhode Island School of Design president John Maeda also joined the board at Sonos. Andreas Von Blottnitz of BV Capital will be stepping down from his director spot.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry