Music technology firm ROLI raises £18m

Music technology firm ROLI raises £18m

East London-based music technology company ROLI has raised over £18.6m to help grow the company and introduce its technology to new markets.

ROLI’s chain of connected hardware, software, platform and developer products have received worldwide acclaim and the company is now looking to increase its global footprint.

The Series B fundraising will help ROLI scale to meet growing demand, expand in new markets, and intensively build out its product, engineering, and marketing teams in both North America and Europe.

Two of its newest investors include US-based companies Foundry Group and Founders Fund who will help the company expand its presence in North America.

This will be aided by the fact that ROLI has already opened offices in New York and Los Angeles since its acquisition of Blend, the cloud-based music-sharing platform, in October 2015.

Founder and CEO of ROLI, Roland Lamb, said: “We’re thrilled to be partnering with some of the world’s most experienced investors as we revolutionise how people express themselves through music.

“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.”

ROLI is also extending the journey of music creation to everyone not only through its products but also by working with institutions like Children’s Music Fund, INSPIRE Music, and Rytmo.

Expanding its commitments to society, 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.

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