Existing backers Shasta, Bessemer Ventures Partners and Granite also participated in the round, which brought Smule’s fundraising total to $42m.
“By going through this process, we open it up, brought in a lot of great new investors, but instead of having one anchor, it’s like ten. And no change in board composition,” CEO Jeff Smith told CNET.
“Roth brought in a bunch of folks, a bunch of growth funds, and then a bunch of high net worth folks. And these are folks that basically were able to buy in directly. I think their thinking is maybe it’s pre-IPO.”
other companies backed by Roth include cloud and mobile testing business Soasta, which raised a $30m round last year.
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