Pocket FM offers short episodic audio series across genres and languages, using a pay-as-you-go coin system rather than a subscription model to unlock episodes. The platform hosts more than 100,000 hours of content and over 400,000 episodes and emphasizes creator-led content via its Pocket Novel writing platform. Pocket Novel has over 250,000 writers and the company said some writers earn more than $3,000 per month; Pocket FM is investing $40 million into Pocket Novel and runs a revenue-share model plus creator incentives. The startup is testing generative-AI features to convert writing into audiobooks, is working with Eleven Labs on 50 AI-powered voices, and is building internal AI tools to boost creator productivity. Pocket FM expanded to the U.S. in 2021 and reports high engagement (115 minutes globally, 135 minutes in the U.S.); it runs a limited audiobook vertical in India. Financially, the company crossed $150 million ARR this year (with $100 million from the U.S.), is not yet profitable but reports high gross margins, and has about 800 employees with plans to add 500 globally. Pocket FM operates an audio series platform that embeds storytelling elements with content personalization, which the company says has driven a "binge listening" consumption habit. The platform is positioned as an audio OTT service focused on serialized content and creator-driven programming. The company plans to use new funding to strengthen its audio series library, expand its creator community by attracting talent globally, and accelerate revenue. Pocket FM was founded in 2018 and is led by CEO Rohan Nayak; it is based in Lewes, DE. Prior to the new financing the company had raised US$93.5M through Series C. With the latest debt funding, the company reports a total capital infusion of US$109.5M.

Total raised

$119M

Funding rounds

2

Latest round

Series D

Latest activity

Mar 2024