Zenph Sound Innovations, a Raleigh, North Carolina-based technology company that transforms music into data to understand and precisely recreate musical performances, has secured $10.7m in its first institutional round of financing.
The round was led by the Durham-based Intersouth Partners, with participation from Capitol Broadcasting Company of Raleigh participating.
In addition, the company named Kip A. Frey as its President and CEO and announced that Katrin Burt and Mitch Mumma of Intersouth Partners will join the company’s Board of Directors, along with two industry leaders, Matthew Szulik and William Patry.
The funds will be used to refine the company’s business model and continue product development.
In conjunction with the financing, the company has changed its name from Zenph Studios to Zenph Sound Innovations, Inc.