Lightspeed Venture Partners Leads $103M Series D Financing of PocketFM
Gunderson Dettmer represented client Lightspeed Venture Partners as it led the $103 million Series D financing of PocketFM, an India-based audio platform. The round brings the company’s valuation to $750 million. Following PocketFM’s successful U.S. expansion, the new capital will go towards the company’s expansion into Europe and Latin America.
In the announcement of the transaction, Partner at Lightspeed Venture Partners, Harsha Kuma said, “This is always a tough balance. Companies can try many things all the way from hyper-personalization for consumers to using AI assistants to help creators get better and boost their earnings. I believe the platform’s recommendation algorithms have a huge role to play — whether the platform recommends popular content or it recommends content per your taste.”
The Gunderson deal team was led by Jonathan Pentzien and included Kinnari Sahita and Cheryl Lau.
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