Pocket FM raises $103M in Series D funding
The funding is led by Lightspeed Ventures, with Stepstone Group also participating
Pocket FM has raised $103 million in its Series D funding. The company has received the funding at a valuation of about $750 million. This is nearly double compared to $390 million when it previously raised $65 million in its Series C round in March 2022.
The latest round of funding is led by Lightspeed Ventures, with Stepstone Group also participating. According to media reports, this takes Pocket FM’s total fundraise so far to $196.5 million.
Talking about the funding, Pocket FM’s co-founder and chief executive officer Rohan Nayak has said, “Today, we're excited to announce a massive milestone for Pocket FM – we've just secured $103 million in Series D funding! This incredible achievement not only speaks volumes about the faith investors have in our vision but also fuels our determination to revolutionize the world of audio entertainment. Our focus remains on tapping into unique and exclusive stories to solidify our leadership in this emerging category."
Pocket FM has said it plans to use the money to strengthen its presence in the US as well as to expand to Europe and Latin American markets, apart from shoring up its content library and creating a strong IP playbook for its writers.
