Rylo is a San Francisco based company that has developed 360-degree action cameras with breakthrough stabilization technology. Rylo had its initial product launch late last year and the company recently raised $20 million in Series B funding led by Icon Ventures with participation from Accel Partners and Sequoia Capital.
“Securing Series B funding from this excellent group of investors will allow us to maximize our potential for growth and earn significantly more market share,” said Rylo CEO and co-founder Alex Karpenko in a statement. “We have come a long way since our launch one year ago, and I’m excited to continue to drive Rylo’s growth through investments in marketing, sales and retail partnerships in the coming year.”
Karpenko is known as being the creator of the Luma, which is a company that developed image stabilization technology for smartphone videos based on the gyroscope. Instagram acquired Luma and Karpenko co-created the popular Hyperlapse app while at the company.
Rylo’s cameras are currently distributed in over 500 retail stores nationwide including Best Buy and the company plans to expand to more stores. Earlier this year, Rylo was named as one of Fast Company’s “Most Innovative Companies.”
Niclas Bornling was recently hired as the VP of marketing to oversee the company’s brand and marketing operations. Previously, Bornling was the VP of marketing at New Era Cap. Plus Bornling also had marketing roles at Black Diamond Equipment and Salomon.
“Niclas has 20 years of experience building global brands that appeal to a wide range of consumers and markets,” added Karpenko. “He will lead our brand and marketing strategy across all relevant consumer touch points.”
Rylo also recently signed a deal with Aspen Skiing Company as the official camera sponsor of the four-mountain destination resort.