Jonathan Forster, former Spotify executive and current angel investor, joins Dirac’s Board of Directors to help catalyze the company’s expansion into the streaming market.
Swedish sound pioneer Dirac today strengthened its position as the world’s leading one-stop source for digital audio signal processing solutions with the announcement that it has completed a new $6-million (60 MSEK) round of financing and will appoint former Spotify executive Jonathan Forster to its Board of Directors.
The completion of the fundraising round and strategic new board appointment comes on the heels of the company’s recent launch of a breakthrough Dirac headphone technology and mobile app that automatically enhance the performance of any connected headphone to reveal even the most subtle beats, tones and sounds typically lost in standard headphones.
Proceeds from the new financing round will be used to further evolve the capabilities of this technology and app, and expand the company’s ability to create intelligent audio solutions that enable new and improved sound experiences across all devices and content.
“Earlier this year, we introduced a technology that demonstrates that the audio you experience from your headphones can sound so much better with the addition of intelligently-designed digital sound software. However, this headphone technology is just one of the many pieces of our intelligent audio platform which digitally upgrades any kind of sound experience,” stated Dirac CEO Mathias Johansson.
“We’re pioneering the intelligent audio solutions that will enable the devices and content of tomorrow. With this new round of financing, and the addition of Jonathan to our board, we’re equipped with the capital and expertise to realize our long-term product and market development objectives.”
The latest round includes well-known Swedish tech investors Inbox Kapital, Swedia Capital, and Johan Sedihn, and new investor DIG Investment. New board member Jonathan Forster is an international executive with 25-years of experience scaling digital companies through hyper growth. He worked in a number of leadership roles at Spotify, where he spent ten years after joining as one of the company’s first five employees.
“Thanks to music streaming platforms, hundreds of millions of people around the world are consuming more music than ever before,” said Forster. “Dirac’s technology gives each of these people the chance to enjoy the experience through better sound, regardless of how they’re listening. I’m excited to help the team continue to bring this technology to market.”
According to Johansson, this capital infusion and board appointment strengthen Dirac’s leadership position in the audio industry and the weight of this announcement far exceeds that of its headline and offers an important signal to the market.
“We very much remain focused on a future that extends well beyond this current climate. Challenged to rethink the way we live, learn and work, we are not shying away from the investments that are necessary to sustain our long-term growth. We hope that this message helps ignite a sense of optimism among companies and entrepreneurs across the world during these challenging times.”
Dirac’s current suite of digital audio solutions are used by blue chip brands in the smartphone, PC, and home audio/ theater markets, ensuring that the sound that consumers experience is of the clearest, crispest, and most enhanced quality possible. Dirac’s recent technology developments improve the quality of conference calls, online collaboration and gaming through immersive 3D audio and increased voice intelligibility, which helps users across the world in the transition to communicating and working from a remote platform.
Dirac’s solutions are also used in music studios, by professional DJs and producers such as Axwell of Swedish House Mafia; Rami Yacoub, producer behind artists such as Ariana Grande, Demi Lovato, Avicii and more; and Ilya Salmanzadeh (ILYA), singer, songwriter and producer behind artists such as Beyoncé, Taylor Swift, among many others.