Exclusive: Sonos (sort of) raises $25 million

November 6, 2013, 9:27 PM UTC
Fortune

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.

Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com