Lightspeed Audio Labs Raises $1.25 Million in Seed Financing

Authored by dmw on May 1, 2006 - 7:02pm.

Scotch Plains, N.J. - Lightspeed Audio Labs, a developer of online audio collaboration and content creation technology currently in stealth mode, announced on Monday that it has raised $1.25 million in seed funding from SAS Investors. The company will use the seed funds to complete the architectural design and prototype of its technology, and intends to raise $6-$10 million in first round financing in the next twelve months. "Our innovations in audio codec technology, combined with the proliferation of broadband access and the increased power of both client and server PCs, permits our engineering team to architect and deliver a significantly new type of service for musicians, music enthusiasts, and fans," said Lightspeed co-founder Dr. Schuyler Quackenbush, a former AT&T Bell Labs principal researcher and Fellow of the Audio Engineering Society.
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