In conjunction with the financing, ABS Capital general partner Laura Witt will join iZotope’s board of directors, along with Dean Goodermote.
The company intends to use the funds to develop new products, expand their markets and increase sales and marketing efforts.
Founded in 2001 by Mark Ethier, CEO, iZotope makes products and audio technologies for professionals and hobbyists which are sold directly online, as well as through brick and mortar and online retail channels such as Guitar Center.
The company’s portfolio is comprised of solutions for audio creation, repair, mixing and mastering. Through licensing programs, it also powers products made by industry partners such as Adobe, Avid, Microsoft, and Sony, and some mobile phone applications.
Clients include Depeche Mode, Garbage, Skrillex, and Wu-Tang Clan; radio stations and TV programming such as CBS’s Survivor, the Discovery Channel’s Deadliest Catch, the World Cup broadcast and the GRAMMY awards.