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- Pocket FM
Pocket FM Revenue, Valuation, Funding & Investors
Pocket FM is valued at $750M as of March 2024, a 5.0x multiple on its last reported $150M revenue.
Last Pocket FM valuation
$750M
Series D · Mar 2024
Last Pocket FM funding round
$103M
Series D · Mar 2024
Pocket FM revenue
$150M
Series D · Mar 2024
Key investors in Pocket FM
Lightspeed Venture Partners
Tencent
Lightspeed India Partners
Times Internet
Tanglin Venture Partners
Goodwater Capital
About Pocket FM
Pocket FM is an India-based audio entertainment platform, founded in 2018, offering short- and long-form audio series and podcasts in regional languages including Bengali, Tamil, and Hindi. The platform hosts more than 100,000 hours of content and 400,000 episodes across genres such as romance, self-help, and motivation, monetizing through microtransactions and subscriptions on a freemium, pay-as-you-go model. Pocket FM has expanded from India into the United States and other international markets, reaching over 200 million users and processing tens of millions of paid transactions.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Revenue
$150M (Mar 2024)
Valuation
$750M (Mar 2024)
Pocket FM Valuation
Pocket FM is currently valued at $750M, based on its Series D in March 2024.
The $103M round was led by Lightspeed Venture Partners and StepStone Group, with participation from Tencent and Times Internet.
Pocket FM valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2024 | Series D | $750M | 5.0x |
Pocket FM Revenue
Pocket FM's latest recorded revenue is $150M, as of its Series D in March 2024. At a $750M valuation, that implies a 5.0x revenue multiple.
Pocket FM revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Mar 2024 | $150M | $750M | 5.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Pocket FM Funding History
Pocket FM has raised a total of $196M across 5 funding rounds.
Pocket FM's first fundraising round was a $700K seed round in December 2018. The most recent completed round was a $103M Series D in March 2024.
Pocket FM funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2024 | Series D | Lightspeed Venture Partners (lead); StepStone Group (lead); Tencent; Times Internet | $103M | $750M | Pocket FM is an India-based audio entertainment platform offering short-form audio series in regional languages, focusing on user-generated content, microtransactions, and subscriptions. It raised $103 million in its Series D funding round on March 20, 2024, led by Lightspeed Venture Partners with participation from StepStone Group, alongside existing investors like Tencent and Times Internet, bringing total funding to $196 million. The post-money valuation reached $750 million, up from $390 million in the prior Series C. The company reported annual recurring revenue surpassing $150 million at the time of the round, driven by strong US market performance exceeding $100 million ARR and overall growth from microtransaction-led subscriptions reaching Rs 934.7 crore in FY24. Pocket FM achieved 100 billion minutes of streaming, 200 million users, and 45 million transactions, with listeners averaging over 100 minutes daily and 30 audio series hitting significant revenue milestones. Funds will support global expansion into Europe and Latin America following US success, content library growth, R&D, and hiring 500 more staff to reach 1,300 employees. Not yet profitable with FY24 global loss at Rs 165 crore despite Rs 1,052 crore revenue (up 496% YoY), it emphasizes high gross margins, AI for efficiency, and localized content strategies. Lightspeed highlighted AI-driven personalization to compete globally, with talks for a potential next round involving ADIA. |
| Mar 2022 | Series C | Goodwater Capital (lead); NAVER (lead); Tanglin Venture Partners (lead) | $65M | - | Pocket FM is an audio entertainment platform founded in 2018 by Rohan Nayak, Nishant S, and Prateek Dixit, offering podcasts and long-form content in regional languages like Bengali, Tamil, and Hindi, with over 100,000 hours of content, more than 2,000 exclusive series, and 400,000 episodes. The company raised $65 million (approximately ₹4.9B) in its Series C round in March 2022, led by Goodwater Capital, NAVER, and Tanglin Venture Partners, to accelerate growth and enter new international markets. This brought total funding to around $196.5 million by later rounds. The platform expanded to the US in Q4 2022, later achieving over $100 million ARR there, and continued with a $103 million Series D in March 2024 led by Lightspeed and Stepstone Group, pushing total funding to $196.5-$212.73 million. |
| Dec 2021 | Series B | Lightspeed India Partners (lead); The Times Group; Tanglin Venture Partners | $22M | - | Pocket FM is an India-based audio entertainment platform founded in 2018, specializing in long-form episodic storytelling across genres like romance, self-help, and motivation, operating on a freemium model with pay-as-you-go options. It offers over 100,000 hours of content, more than 2,000 exclusive series, and 400,000 episodes, with expansions into markets like the US since 2021. The company raised $22.4 million in its Series B round in December 2021, led by Lightspeed India Partners, to expand market reach and enhance content offerings. Subsequent rounds included a Series C of approximately $65 million (₹4.9B) in March 2022 led by Goodwater Capital, Naver, and Tanglin Venture Partners, and a Series D of $103 million in March 2024 led by Lightspeed Venture Partners and StepStone Group. Total funding raised across rounds is reported between $196.5 million and $212.73 million. Later valuations include approximately $750 million for the Series D in 2024 and $390 million post-Series C in 2022. Later metrics show growth to over $130-160 million ARR by late 2023-early 2024, with $150 million ARR noted around Series D, driven significantly by US expansion adding $100 million ARR and 10 million users. The platform claims 57% quarter-on-quarter growth since early 2022, with a listener base of 130 million across 10 countries. Pocket FM's investors include Lightspeed (participating since a $65,000 seed in 2018), Tencent, Times Internet, Goodwater Capital, Naver, Tanglin Venture Partners, and StepStone Group. The company is not yet profitable but maintains high gross margins, employs around 800 people with plans to add 500 more, and focuses on AI-driven content curation and global expansion into Europe and Latin America. It also operates Pocket Novel, a writing platform with over 250,000 writers aiming for $100 million ARR by 2025, competing with platforms like Pratilipi. |
| Oct 2020 | Series A | Tencent (lead); Times Internet; Lightspeed India Partners | $6M | - | Pocket FM raised $5.6 million in its Series A round in October 2020, led by Tencent with participation from Times Internet and Lightspeed India Partners. The India-based audio platform operates an online hosting service for podcasts and audiobooks. Proceeds supported scaling operations and improving technology infrastructure. |
| Dec 2018 | Seed | peercheque; Lightspeed Venture Partners; Brand Capital | $700K | - | - |
Who has invested in Pocket FM?
11 investors have backed Pocket FM across its funding rounds, including Lightspeed Venture Partners, Tencent, Lightspeed India Partners, Times Internet, Tanglin Venture Partners and Goodwater Capital.
Lead investors include Lightspeed Venture Partners, StepStone Group, Goodwater Capital, NAVER, Tanglin Venture Partners and 2 other investors.
Pocket FM Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Oct 2020 | ||
| 2 | Lead | Dec 2018 | ||
| 2 | Participant | Oct 2020 | ||
| 2 | Lead | Oct 2020 | ||
| 2 | Lead | Dec 2021 | ||
| 1 | Lead | Mar 2024 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Lead | Mar 2022 | ||
This data is available for Pro users. Sign up to see all 11 Pocket FM investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialPocket FM Competitors
Pocket FM competitors include listed companies like Saregama India and Cover, and private ones like Rilla, Caffeine, Minute Media and NewsBreak.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $40M | - | $737M | 18.4x | ||
| Private | - | - | $600M | - | ||
| Publicly listed | $100M | $36M | $979M | 8.6x | ||
| Private | $300M | - | $1B | 3.3x | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $317M | $34M | $677M | 1.9x |
Pocket FM Public Comps
Pocket FM is still privately-owned, but its public comps include Stingray Group, Beijing Baination, Huayi Brothers, Zee Entertainment, Funshine Culture Group, Surya Citra Media, Better Collective, Cover, Tron and H & R Century Union.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $328M | $28M | 3.5x | 2.9x | 40.8x | 8.5x | |||
| $46M | ($174M) | 14.5x | - | (3.8x) | - | |||
| $46M | ($14M) | 19.0x | - | (60.5x) | - | |||
| $843M | $43M | 0.6x | 0.6x | 12.5x | 8.9x | |||
| $36M | $1M | 10.2x | - | 263.3x | - | |||
| $388M | $64M | 1.8x | 1.5x | 10.8x | 4.3x | |||
| $388M | $100M | 2.5x | 2.4x | 9.8x | 7.7x | |||
| $317M | $34M | 1.9x | 1.9x | 17.6x | 9.8x | |||
This data is available for Pro users. Sign up to see all Pocket FM competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Pocket FM
| When was Pocket FM founded? | Pocket FM was founded in 2018. |
| Where is Pocket FM headquartered? | Pocket FM is headquartered in India. |
| Is Pocket FM publicly listed? | No, Pocket FM is a private, VC-backed company. |
| What is Pocket FM's valuation? | Pocket FM was last valued at $750M in its Series D in March 2024. |
| How much funding has Pocket FM raised? | Pocket FM has raised $196M across 5 funding rounds. |
| What was Pocket FM's last funding round? | Pocket FM's last funding round was a $103M Series D in March 2024, led by Lightspeed Venture Partners and StepStone Group. |
| Who are Pocket FM's investors? | Pocket FM's investors include Tencent, Lightspeed Venture Partners, Times Internet, Lightspeed India Partners, Tanglin Venture Partners, StepStone Group, The Times Group, peercheque, Goodwater Capital, Brand Capital and 1 other. |
| What is Pocket FM's revenue? | Pocket FM's latest recorded revenue is $150M (March 2024). |
| What is Pocket FM's revenue multiple? | Pocket FM's latest valuation implies a 5.0x revenue multiple ($750M valuation on $150M of revenue). |
| Which companies are comparable to Pocket FM? | Companies comparable to Pocket FM include Rilla, Caffeine, Saregama India, Minute Media, NewsBreak and Cover. |
See companies similar to Pocket FM
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