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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  • Breaking down the $135 million Sonos deal

    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.

    Three notes:

    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 MORE

    - Jun 19, 2012 11:07 AM ET
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