One of the leading audio technology company announced a USD12 million investment from ABS Capital Partners. iZotope Inc received the capital infustion from the investor whose focus is later stage growth firms. The funds received would be utilized to develop new product lines, expansion of market presence and increase its sales and marketing efforts.
Part of the investment deal is the inclusion of ABS Capital General Partner Laura Witt into the iZotope Inc board of directors as well as Dean Goodermote, former ABS Capital portfolio CEO.
According to iZotope Inc co-founder and CEO, "iZotope is a company driven by a wealth of creative brainpower. Coupled with our position as a market leader, this funding will enable us to realize more of our creative vision, accelerating innovation and new products for our loyal customer base. Taking outside funding is a huge opportunity and we felt that ABS Capital would be a true partner in the business. With more resources, we'll be able to expand the reach of our current offerings and develop products to address new opportunities in ways we never imagined."
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