Stitcher, a San Francisco, CA-based personalized Internet talk radio, has closed a $10m Series C venture capital financing.
The round was led by New Enterprise Associates (NEA), with participation from existing investors Benchmark Capital, New Atlantic Ventures, and Ron Conway.
The company intends to use the funds to build out a direct sales team, and drive product development, including enhancing its platform for content partners.
Led by CEO Noah Shanok, Stitcher gives listeners access to their favorite audio programs and the opportunity to create personalized stations from more than 6,000 different shows that cover news, entertainment, sports, comedy, etc.
It offers programming as diverse as CNN News, NPR’s Fresh Air, E!’s Chelsea Lately, Rush Limbaugh, TechCrunch headlines, Marc Maron, and Fox Sports.
The Stitcher SmartRadio™ can be downloaded at the company web site or in the iTunes, Android, Palm, and BlackBerry app stores. It is also available in vehicles through the Ford SYNC platform and the Buick IntelliLink in-car connectivity system.
In conjunction with the funding, Ravi Viswanathan, general partner, NEA, will join Stitcher’s board of directors.
The company is currently hiring (http://www.stitcher.com/jobs.php).
FinSMEs
21/09/2011