Foundry Group leads $27m series-B for Roli

Business Growth Fund and Founders Fund also took part in the round alongside previous backers Balderton Capital, FirstMark Capital, Index Ventures, Horizons Ventures and Universal Music Group.

As with previous funding rounds, the fresh capital will enable Roli to expand internationally by recruiting in its product, engineering and marketing teams across Europe and North America.

The business bolted on cloud-based music sharing platform Blend in October 2015 and has since opened offices in Los Angeles and New York. 

Previous funding
Balderton led an initial $12.8m series-A round for Roli in May 2014, with participation from Index, US-based FirstMark and Universal Music. Hong Kong firm Horizons provided $3.7m in follow-on funding five months later.

Company
Founded in 2009 and headquartered in London, Roli produces technology-focused musical instruments. The company designs and manufactures Seaboard products, which are keyboards with a soft continuous surface that allow musicians to employ techniques not usually associated with pianos.

According to its website, Roli now has a headcount of 88, up from 50 at the time of Horizons' follow-on funding round in October 2014.

People
Foundry Group – Ryan McIntyre (partner).
Roli – Roland Lamb (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Venture
• BGF (Business Growth Fund)