iZotope, Inc., a Cambridge, MA-based provider of tools for audio production, raised $7.5 million in equity and debt financing.
The financing included:
– a $2.5m Series B round led by existing investor ABS Capital Partners, with participation from individual investors, and
– a $5m debt facility from Comerica Bank.
The company, which has raised $14.5m in total venture capital funding and $19.5m in total with the debt facility included, intends to use the funds to accelerate the launch of a new product line, which leverages new technologies to enhance the creative experience, providing musicians with advanced hardware, mobile and cloud-enabled tools.
Founded in 2001 by Mark Ethier, CEO, iZotope currently provides a product portfolio composed of solutions for audio creation, repair, mixing and mastering.
Its recently launched VocalSynth is a plug-in that brings together four vocal engines – Vocoder, Polyvoice, Compuvox, and Talkbox – alongside specialized vocal effects and pitch correction.