Pocket FM’s valuation crosses $750 mn, bags $103 mn in Series D funding

Audio entertainment platform Pocket FM said that it has raised $103 million in Series D funding. The round was led by Lightspeed with participation from Stepstone Group.

The company’s valuation has almost doubled in the latest funding round, to about $750 million from $390 million when it previously raised $65 million in its Series C round in March 2022. The latest round brings Pocket FM’s total funding to date at $196.5 million.

“We are growing sustainably and we’re not in that position where we have a runway issue. We believe profitability is the natural outcome for us, given our unit economics,” said Rohan Nayak, chief executive and co-founder of Pocket FM, in an interview.