Palo Alto-Based TuneIn Raises $16 Million in New Funding

Palo Alto, Calif. -- TuneIn, the Palo Alto-based developer of apps that lets users listen to more than 70,000 AM, FM, HD and Internet radio stations through their mobile devices and computers, said it has raised $16 million in a new round of funding, led by General Catalyst Partners. Jafco Ventures, Google Ventures and previous backer Sequoia Capital also contributed to the round, which the company will use to scale its technical and business operations worldwide. "This investment will help us fulfill our mission while increasing our headcount and growing our product development and marketing initiatives," said CEO John Donham. The company said it now reaches 40 million monthly active listeners, a 267% increase in its mobile listener base over the past 12 months.
http://tunein.com
http://www.marketwire.com/press-release/tunein-hits-40-million-monthly-active-listeners-raises-16-million-in-funding-1687229.htm