Universal Music Group has participated in a new $27m Series B funding round for futuristic instrument firm ROLI.
ROLI, based in East London, has created the Seaboard RISE (pictured) as a ‘universally accessible music-making device’, tackling what it calls the ‘frustratingly limited’ range of the traditional keyboard.
The company raised $12.8m in Series A funding last year from Balderton Capital, FirstMark Capital, Index Ventures, Horizons Ventures, and Universal Music Group.
Now it’s raised $27m more from the same backers, plus London-based BGF Ventures and San Francisco-based Founders Fund.
ROLI says the new cash fundraising will help it scale to meet growing demand, expand in new markets, and intensively build out its product, engineering, and marketing teams in North America and Europe.
Roland Lamb, Founder and CEO of ROLI (pictured), 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 revolutionize how people express themselves through music.
“We’re thrilled to be partnering with some of the world’s most experienced investors.”
Roland Lamb, ROLI
“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.”
The Seaboard RISE, which launched in September 2015, remodels the piano keyboard as a soft, smooth, touch-responsive surface that lets music-makers shape sound through five dimensions of touch.
In December 2015 ROLI launched NOISE, a free iOS app that turns iPhones and iPads into expressive musical instruments.
Foundry Group, the Boulder-based venture capital firm, 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.”
ROLI has opened offices in New York and Los Angeles since its acquisition of Blend, the cloud-based music-sharing platform, in October 2015.
Seaboards are now available in approximately 200 retail outlets in 15 countries. Seaboards purchased on ROLI’sonline Store ship globally.
In addition, ROLI has announced that it will pledge 1% 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.Music Business Worldwide
