Pocket FM, a Los Angeles, CA-based provider of an audio entertainment platform, raised $103M in Series D funding.
The round, which brought the total amount to $196.5M, was led by Lightspeed with participation from StepStone Group.
The company intends to use the funds to expand into the U.S. market, as well as into Europe and LATAM markets in 2024, to strengthen its content library and create a sound IP playbook.
Led by CEO Rohan Nayak, Pocket FM aims to redefine the audio OTT space by developing the audio-series category. The company focuses on original and unique storytelling across different genres. Since launching in 2018, Pocket FM has established itself as a leader in the entertainment space, building a large repository of exclusive audio series. With over 100,000+ hours of content, including 2,000+ exclusive audio series and more than 400,000 episodes across genres and languages, the platform has surpassed $150 million ARR.
Commenting on the news, Rohan Nayak said: “Our robust content library of audio series and a strong consumption behavior on the platform is shaping the future of entertainment. Our focus remains on tapping into unique and exclusive stories to solidify our leadership in this emerging category and create a strong IP playbook. This latest funding validates our vision and the possibilities we bring to disrupt the industry.”
FinSMEs
20/03/2024