Total amount raised
$455.2 Millions
Latest funding date
07/01/2018
Location
Sonos has successfully raised funding through multiple rounds, with its last round being a Secondary Market round on July 12, 2018. The company is backed by eight investors, including EquityZen and Audrey Capital.
Keep reading to explore the intricacies of Sonos's fundraising journey and the investors backing this innovative platform.
What Is Sonos?
Sonos, founded on June 30, 2002, in Santa Barbara, California, specializes in wireless speakers and home sound systems. The company was established by John MacFarlane, Thomas Cullen, and Trung Mai.
Sonos's innovative products allow users to play music anywhere in the house and control it using a smartphone. Their offerings include soundbars, portable speakers, home theater systems, and smart speakers.
With a workforce of 1001-5000 employees, Sonos continues to lead in the audio industry, providing superior sound quality and ease of use through their proprietary app and various control options.
How Much Funding Has Sonos Raised?
- Round Name: Series A
- Amount Raised: $2.3M
- Date: January 2005
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product line.
- Round Name: Series A
- Amount Raised: $15M
- Date: August 2005
- Lead Investors: Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand market reach.
- Round Name: Series B
- Amount Raised: $6M
- Date: June 2007
- Lead Investors: Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and improve technology.
- Round Name: Series C
- Amount Raised: $25M
- Date: March 2010
- Lead Investors: Index Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and marketing efforts.
- Round Name: Series F
- Amount Raised: $135M
- Date: June 2012
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund research and development for new products.
- Round Name: Series G
- Amount Raised: $99M
- Date: July 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and increase production capacity.
- Round Name: Secondary Market
- Amount Raised: $25M
- Date: November 2013
- Lead Investors: Kohlberg Kravis Roberts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Round Name: Secondary Market
- Amount Raised: $130M
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic acquisitions and partnerships.
- Round Name: Angel Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and innovation.
- Round Name: Secondary Market
- Amount Raised: Not publicly disclosed
- Date: July 2018
- Lead Investors: EquityZen, Audrey Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to shareholders and support long-term growth.
Total Amount Raised: $437.3M
Current Valuation: Not publicly disclosed
Key Investors
The major investors in Sonos have played a significant role in the company's growth and development. Here are some of the key investors:
- Kohlberg Kravis Roberts
- Details: Kohlberg Kravis Roberts (KKR) is a global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit. Founded in 1976, KKR has a long history of successful investments and value creation.
- Investment Focus Areas: Private equity, energy, infrastructure, real estate, credit.
- Notable Investments: First Data, GoDaddy, Nielsen.
- Index Ventures
- Details: Index Ventures is a venture capital firm that invests in technology-enabled companies with a focus on Europe and the United States. Established in 1996, Index Ventures has supported numerous successful startups.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Dropbox, Slack, Robinhood.
- Headline
- Details: Headline is a global venture capital firm that invests in early-stage and growth-stage companies. With a presence in North America, Europe, and Asia, Headline focuses on innovative and disruptive businesses.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Bumble, Farfetch, Sonos.
- EquityZen
- Details: EquityZen is a marketplace for pre-IPO equity, providing liquidity to early investors and employees of private companies. Founded in 2013, EquityZen has facilitated numerous transactions in the private market.
- Investment Focus Areas: Technology, consumer products, financial services.
- Notable Investments: Impossible Foods, Palantir, SpaceX.
- Audrey Capital
- Details: Audrey Capital is an investment firm founded by Matt Mullenweg, the co-founder of WordPress. The firm focuses on supporting innovative and impactful companies.
- Investment Focus Areas: Technology, media, open-source projects.
- Notable Investments: WordPress, Automattic, GitHub.
What's Next for Sonos?
Sonos's recent $130 million fundraising marks a significant opportunity for the company to expand its product lines and enter new markets. This capital injection positions Sonos to leverage industry trends favoring smart home technology and high-quality audio experiences.
Future fundraising could be on the horizon as Sonos continues to innovate and capture market share. However, challenges such as intense competition and rapid technological advancements may test the company's resilience. Despite these hurdles, Sonos's strategic plans and robust financial backing suggest a promising path forward.
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