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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Going beyond the noise.
FORTUNE -- Sonos, a maker of wireless home audio systems, has raised $135 million in a growth equity round led by Kohlberg Kravis Roberts (KKR). Elevation Partners and Redpoint Ventures also participated, while existing company shareholders include Index Ventures and BV Capital.
1. According to All Things D, only about $45 million of the round is primary capital. The remainder is founder/early shareholder liquidity. Unclear if BV is MOREDan Primack - Jun 19, 2012 11:07 AM ET
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