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Exclusive: Sonos (sort of) raises $25 million

November 6, 2013: 11:27 AM ET

sonosHome audio company raises a 'liquidity round' for early employees.

FORTUNE -- Sonos, a maker of high-end wireless home audio systems, has raised approximately $25 million in new funding, Fortune has learned. But none of the money is actually going into the company.

Instead, existing investors like Kohlberg Kravis Roberts & Co. (KKR) and Index Ventures are buying up shares from early employees.

This is at least the third time that Sonos investors have provided employees with liquidity, including as part of a $135 million round that KKR led back in July 2012. At the time, All Things D reported that only around $45 million of that deal was primary capital.

A Sonos spokesman declined to comment.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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