MAVA Members ABS Capital, Comerica Bank Infuse $7.5 mln into iZotope
iZotope, Inc., makers of award-winning tools for audio production, today announced $7.5 million in new financing comprised of equity and debt. The $2.5 million Series B round was led by existing investor ABS Capital Partners, a leading investor in later-stage growth companies, with participation from individual investors. The new investment also includes a $5 million debt facility from Comerica Bank.
The funds will be used to support the company’s continued growth and to accelerate the launch of a groundbreaking new offering. The new product line taps into the potential of modern technologies to enhance the creative experience, providing musicians with unique hardware, mobile and cloud-enabled features not currently available in the market. Building on iZotope’s tradition of industry leadership, the new line will change the way musicians create, record and collaborate on their music.