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Sonos Gets $135 Million in Funding

Kohlberg Kravis Roberts, Redpoint Ventures and Elevation partners are investing a large sum in the technology company.
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Sonos, maker of high-end wireless music systems, has gotten $135 million in newfunding from Kohlberg Kravis Roberts, Redpoint Ventures and Elevation Partners,reports the Wall Street Journal.   

Sonos first began selling its music systems back in 2005 and has gained a strong following, reports the Journal.

About $45 million of the recently secured funds will be assigned to the growth of the Santa Barbara, California, company’s music systems, according to AllThingsD.  (The company also announced the release of a new subwoofer on Tuesday.)

Sonos will also get a few new high-profile board members, the Journal reports: former Apple CFO Fred Anderson, KKR’s David Kerko, and Rhode Island School of Design president John Maeda. The company is probably on U2 frontman Bono's radar as well: He's co-founder of one of the investors, Elevation Partners, along with Anderson.

Last updated: Jun 19, 2012

ABIGAIL TRACY

Abigail Tracy is a staff reporter for Inc. magazine. Previously, she worked for Seattle Metropolitan magazine and Chicago magazine.




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