Pocket FM, an audio series platform based in Lewes, DE, has successfully raised $16M in debt financing, with Silicon Valley Bank providing the necessary funds.
The company plans to utilize this capital injection to enhance its audio series collection, attract global talent to grow its creator community, and expedite revenue growth.
Established in 2018 by CEO Rohan Nayak, Pocket FM has developed an audio OTT platform that combines engaging storytelling with a personalized content experience, leading to the rise of “binge listening” as a popular consumption behavior.
Since its inception, Pocket FM has raised $93.5M up to its Series C round. With the addition of this latest debt financing, the company’s total capital raised now stands at $109.5M.