Sonarworks

Creating smart speakers by adding digital signal processing to the physical product.

Launch date

2012

Employees

Market cap

Enterprise valuation

Company register number 40103611667

Riga Vidzeme (HQ)

http://sonarworks.com

https://twitter.com/soundidref https://www.facebook.com/sonarworks https://www.linkedin.com/company/sonarworks/https://apps.apple.com/app/id1490569267 https://play.google.com/store/apps/details?id=com.sonarworks.soundid.mobile

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Revenues, earnings & profits over time

EUR	2017	2018	2019	2020	2021	2022	2023
Revenues	1.5m	2.2m	2.6m	3.5m	3.9m	3.6m	3.6m
% growth	59 %	50 %	20 %	33 %	10 %	(6 %)	-
EBITDA	-	(<1m)	(1.8m)	(1.6m)	(2.5m)	(1.8m)	-
% EBITDA margin	-	(33 %)	(69 %)	(45 %)	(65 %)	(50 %)	-
Profit	(<1m)	(<1m)	(1.9m)	(1.6m)	(2.6m)	(1.8m)	-
% profit margin	(15 %)	(36 %)	(71 %)	(47 %)	(66 %)	(51 %)	-
R&D budget	1.0m	2.0m	2.0m	3.0m	-	-	-
R&D % of revenue	68 %	91 %	76 %	86 %	-	-	-

Source: Dealroom estimates

Date	Investors	Amount	Round
-	StartinLV Trind Ventures Specialist VC Toby Moore	N/A	-
Feb 2014	Imprimatur Capital Fund Management - ICFM FlyCap	€600k	Seed
Jul 2016*	Imprimatur Capital Fund Management - ICFM FlyCap	€700k	Seed
Dec 2017	Karma Ventures	€500k	Seed
May 2019	Revo Capital Practica Capital Karma Ventures Imprimatur Capital Fund Management - ICFM Superangel	€5.0m	Series A
Oct 2020	Smarthub	N/A	Series A
Jul 2021	Almaz Capital	$6.0m	Series A
Jul 2021*	Nordic Secondary Fund	N/A	Secondary
Total Funding		$13.5m

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