OtoSense, a developer of sound recognition software that turns sounds and vibrations into actionable meaning, has been acquired by Analog Devices. The California-based company pitched at an Investors’ Circle-Social Venture Network (IC-SVN) event in October 2014 and subsequently raised funding from IC-SVN investor members and syndicate partners. The exit is the second of the year for IC-SVN, a community of impact investors and business leaders that has invested over $220 million into more than 330 social enterprises dedicated to improving the environment, education, health, and community.
“As members of IC-SVN, we have found amazing early-stage impact deals through the network and had the privilege of working alongside passionate, like-minded investors. As our second exit of 2018, OtoSense’s acquisition by Analog Devices is a great example of how we find the brightest early-stage social enterprises and provide them with the funding and strategic advice they need to grow their business and scale their impact,” says Justin Desrosiers, Managing Principal of SustainVC and OtoSense board observer.
OtoSense was founded with the goal of helping hearing-impaired individuals understand their surrounding environment. The company has since expanded its impact into the realm of public safety with the potential to help autonomous vehicles stay safe by listening for emergency sirens, or keep cities safer by interpreting sounds from city surveillance systems.
Co-Founder & CEO Sebastien Christian started the company in 2013 and first engaged with the IC-SVN community in 2014 when OtoSense was raising its first round of financing. He remarks, “Engaging with the impact investors from Investors’ Circle and SustainVC has been a productive and beneficial experience – from initially pitching at an Investors’ Circle event in 2014, raising capital, and then working closely with them over the past three years. As board observers, Justin Desrosiers and Sky Lance were helpful throughout the lifecycle of OtoSense and provided sound advice from the first round of financing through the exit.”
The network effect of Otosense’s fundraising story highlights the value of investment partnership for companies and investors alike. Says IC-SVN investor member Bethann Kassman, “I first discovered OtoSense at an IC pitch event in 2014. I then shared the opportunity with my Go Beyond investor group and brought in additional co-investors like Portfolia. OtoSense is a great example of deal syndication that resulted in a positive realization for all of us!”
“Now that OtoSense is part of Analog Devices, we are excited at the opportunity to scale our impact. Analog Devices is a natural fit for our team and our engineering culture, and it is the dream scenario for our partners and customers,” says Christian.
To discover early-stage, high-impact companies like OtoSense that are currently raising capital and to connect with the IC-SVN community, register to attend the organization’s annual conference, Bridging Profit and Purpose: A Convening of Business Leaders and Impact Investors, in Brooklyn, New York from November 1-4, 2018. Use “OtoSenseExit” for $500 off the ticket price.