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ROLI raises $27 million in latest fundraising round

Daniel Gumble
ROLI raises $27 million in latest fundraising round

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.

“We're thrilled to be partnering with some of the world's most experienced investors as we revolutionise how people express themselves through music. And as we continue this journey, we are looking for everyone-from coders and makers to composers and musicians to join the ROLI team as we change the shape of music."
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Venture capital firm Foundry Group led the round in its first investment outside the US. Ryan McIntyre, partner at Foundry Group, said: "We've had the opportunity to partner with companies at the forefront of Connected Health, Connected Play, and other areas where the intersection of physical and digital technologies is transforming the way we live. We're tremendously excited to be working with Roland and the ROLI team to transform and connect how people make music. The Seaboard is a truly expressive new instrument, and we believe this is just the first step in a breakthrough roadmap for Connected Music."

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 firm is currently working with institutions like Children's Music Fund, INSPIRE Music, and Rytmo, and is promising to pledge one per cent of its products, equity, and team's time to find new ways of ‘bringing the joy of making to everyone’.

It joins technology companies such as Salesforce.org, Techstars, and Glassdoor in the Pledge 1% movement in the US and UK.

Tags: ROLI , roli seaboard rise , funding , seaboard rise

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