One of my favorite companies. Strong brand, excellent products.
Sonos, a Santa Barbara, Calif-based company that makes networked connected music hardware, has raised a $45 million in new investment and has expanded its board to add some heavyweights. The new investors in the company include Kohlberg, Kravis & Roberts (KKR), Elevation Partners and Redpoint Ventures. Index Ventures, which is an existing investor, did not participate in this round.
The company also executed $90 million in secondary financing. The secondary financing allows existing investor BV Capital and other shareholders such as employees, founders and angel investors to cash in their chips. BV Capital has come to the end of its association with Sonos and as a result, Andreas Von Blottnitz from BVCapital is going to leave the board.
Sonos is adding a few new people to its board. KKR will be represented by David Kerko along with Elevation’s Fred Anderson (and former Apple CFO) and John Maeda, president of the Rhode…
View original post 173 more words