San Francisco-based Rylo, a camera startup, has raised $20 million in Series B funding. Icon Ventures led the round with participation from Accel Partners and Sequoia Capital.
SAN FRANCISCO (Oct. 2, 2018) –
Rylo, a technology company that is transforming the way people capture and share life’s meaningful moments, announced three key growth milestones this week, building on the momentum that has quickly propelled the brand to the forefront of the action camera market since its initial product launch late last year.
First, the brand announced it has secured $20 million in Series B funding, led by Icon Ventures. The round brings Rylo’s total venture funding to $35 million, and includes participation from Accel Partners and Sequoia Capital.
“Securing Series B funding from this excellent group of investors will allow us to maximize our potential for growth and earn significantly more market share,” said Alex Karpenko, Rylo CEO and co-founder. “We have come a long way since our launch one year ago, and I’m excited to continue to drive Rylo’s growth through investments in marketing, sales and retail partnerships in the coming year.”
Identified as one of Fast Company’s “Most Innovative Companies” earlier this year and with distribution in more than 500 retail stores nationwide including Best Buy, Rylo is poised for expansion. The brand recently hired Niclas Bornling as vice president of marketing to oversee all brand and marketing operations and further solidify Rylo as a leader in its category. Most recently, Bornling was the vice president of marketing at New Era Cap, and before that he held marketing posts at Black Diamond Equipment and Salomon.
“Niclas has 20 years of experience building global brands that appeal to a wide range of consumers and markets,” said Karpenko. “He will lead our brand and marketing strategy across all relevant consumer touch points.”
Additionally, Rylo has signed a year-long deal with Aspen Skiing Company to be the official camera sponsor of the four-mountain destination resort. The brand will be the title sponsor for the upcoming ski marketing conference and film festival, “The Meeting,” held October 4-6 in Aspen, Colo. Rylo will be exclusively sold across all Aspen Skiing Company retail locations.
About Rylo, Inc.
Led by a team of former Apple and Instagram engineers, Rylo is a San Francisco based technology company that is redefining the action camera experience through software innovation and a unique mobile-first approach. Rylo’s compact and powerful 360-degree camera offers breakthrough stabilization technology and a simple, intuitive app, enabling users to easily create and instantly share incredibly smooth, cinematic video. Founded in 2015, Rylo, Inc. is backed by Icon, Accel, Sequoia, SV Angel, and others. For more information, visit rylo.com.