Exclusive: Sonos (sort of) raises $25 million
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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