What is Performance Audio?
Founded in 1977 by S. Kevin Lewis and based in Salt Lake City, Utah, Performance Audio has established itself as a key supplier of professional sound systems. For over two decades, the company has catered to the needs of touring entertainers, business and trade shows, and film and video production. A significant expansion occurred in the late 1980s with the opening of a wholesale electronics supply store, which now contributes over 60% of the company's revenue and facilitates efficient distribution to a national customer base. In 1990, Performance Audio ventured into theme parks and amusement attractions, designing and equipping entertainment spaces. Notable projects include installations for major Las Vegas and Florida entertainment venues, and a significant contract for the Titanic attraction in Sydney, Australia, prior to the 2000 Summer Olympics. As the digital age progressed, Performance Audio became a leader in digital workstation technology, supplying systems for film and video producers, CD and tape duplicators, and recording/broadcast studios.
How much funding has Performance Audio raised?
Performance Audio has raised a total of $1M across 2 funding rounds:
Debt
$350K
Debt
$686K
Debt (2020): $350K with participation from PPP
Debt (2021): $686K led by PPP
Key Investors in Performance Audio
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Performance Audio?
The recent major strategic investment indicates a phase of potential scaling or operational enhancement for Performance Audio. Given its extensive history and diversified revenue streams, from wholesale distribution to specialized theme park installations and digital audio technology, this capital infusion is likely to support further market penetration and technological advancement. The company's established reputation and broad service offering position it well for continued growth in the professional audio and entertainment technology sectors. Future developments may involve expanding its digital solutions portfolio or enhancing its wholesale distribution network.
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