Rylo said it raised $20 million of Series B funding in a round led by Icon Ventures and joined by Accel Partners and Sequoia Capital. The funding brings capital raised to $35 million.
A press release follows:
Rylo Secures $20 Million in Series B Funding, Announces New Hires and Partnerships
The brand appoints Niclas Bornling to vice president of marketing and signs as official sponsor of Aspen Skiing Company
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.