East-London based music Technology firm ROLI has raised $27 million in its Series B fundraising round to help accelerate growth and bring its products to a wider audience.
Having established itself with the innovative Seaboard RISE keyboard/controller instrument, the company is now looking to meet growing product demand, expand into new markets and bolster its product, engineering and marketing teams in the US and Europe.
Roland Lamb, founder and CEO of ROLI, said: “Music is a source of joy, and we want to make music creation more connected and accessible for everyone. The success of the Seaboard has shown that people want musical devices that are elegant, advanced, and open to all-and as easy to use as a smartphone or tablet.
Venture capital firm Foundry Group led the round in its first investment outside the US. London-based BGF Ventures and San Francisco-based Founders Fund joined the round alongside all the investors who participated in ROLI’s $12.8m Series A: Balderton Capital, FirstMark Capital, Index Ventures, Horizons Ventures, and Universal Music Group.
ROLI welcomes Foundry Group and Founders Fund at a time when the US accounts for a large share of current and prospective sales. It has opened offices in New York and Los Angeles since its acquisition of Blend, the cloud-based music-sharing platform, in October 2015.
As ROLI continues to grow in the US and Europe, it is also growing internationally. Seaboards are now available in approximately 200 retail outlets in 15 countries, while Seaboards purchased on ROLI’s online Store ship globally.
The Seaboard RISE is a revolutionary instrument that lets musicians touch and shape sound, opening new dimensions of musical expression. Building on the technological breakthroughs of the Seaboard GRAND, the Seaboard RISE is accessible to all music-makers because of its portability, affordability, and intuitively designed interface.
Watch this video to see why the Seaboard RISE will be an indispensable tool for contemporary music makers.