Boombotix Secures $4 Million Funding Round
Company Brings a Fresh Approach to Portable Audio and Music Markets
SAN FRANCISCO, Calif., January 31, 2014-- Boombotix, the San Francisco-based wearable audio company merging next- gen audio hardware and software, today announced a $4 million strategic investment from new and existing investors. New investors include Social+, Baseline, Red Hills, Great Oaks and Grishin Robotics, while existing investors participating in the round include Walden Venture Capital and David Dolby.
“Boombotix has spent the last three years developing the highest-quality audio hardware and software products and solidifying its operations,” said Lief Storer, chief executive officer, Boombotix. “This new investment will enable us to rapidly expand our presence in the market with our unique audio products that combine hardware and software to create a fresh approach to how people enjoy their music.”
Since launching in 2010, Boombotix has seen triple-figure sales growth year-over-year. They have shipped a line of speakers called Boombots into national retailers like T-Mobile, Microsoft and hundreds of specialty retailers in action sports and cycling. Since the launch of the Boombot REX, the company has also seen tremendous growth in their online segment with etailers including Apple.com, Amazon and their own direct eCommerce.
“I’ve had a number of audio devices, but the Boombot design has brought a level of wearability that is unique in a world full of just headphones,” said Ted Maidenburg, partner at Social+ Capital. “The Boombotix team continues to show impressive innovation with building an amazing user experience and we are looking forward to amplifying that experience.”
Wearable technology not only has to overcome technical hurtles, but it has to drive trends in fashion and design too. The Boombot REX has been heralded for phenomenal industrial design while blending acoustic performance with software.
“Boombots have always been a great extension to smartphones. The technologies we are developing are going to continue making mobile audio more accessible and less invasive than ever,” adds Storer.
At the end of the 2013, Boombotix launched a mobile app called SYNC on iOS that synchronizes audio content on 4G/LTE networks. This is the first technology that allows users to create synchronized peer-to-peer listening over mobile. This is just part of the new audio listening experience that Boombotix is creating.
The Bluetooth speaker market has seen triple figure growth over the past two years with over 2.2 million units sold domestically in 2012 . Boombotix has demonstrated that it has a brand that is commanding strength in strategic verticals that can potentially expand into double-figure market share very quickly.
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