TuneIn Hits 40 Million Monthly Active Listeners; Raises $16 Million In Funding
August 6, 2012 at 9:11 AM (PT)
TUNEIN has raised $16 million in a round of funding, led by GENERAL CATALYST PARTNERS, with participation from JAFCO VENTURES, GOOGLE VENTURES and existing business partner SEQUOIA CAPITAL. TUNEIN will use the new funding to "scale the company's technical and business operations worldwide."
"Our mission is to deliver the best listening experience possible, and it is so meaningful to us that 40 million people have chosen to listen to the world -- every month -- through TUNEIN," said TUNEIN CEO JOHN DONHAM. "This investment will help us fulfill our mission while increasing our headcount and growing our product development and marketing initiatives."
The PALO ALTO, CA-based company also announced it has reached 40 million monthly active listeners, which includes a 267% increase in the company's mobile listener base over the past 12 months.