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Pocket FM Registers $25 Million ARR, Planning To Explore US Markets

Pocket FM has raised $93.5 funding till date, including $65 million in March 2022 and $22.4 million in December 2021

Pocket FM Registers $25 Million ARR, Planning To Explore US Markets
Pocket FM Website
POSTED ON November 14, 2022 4:00 PM

Gurugram-based audiobook platform Pocket FM recorded an Annual Revenue Run Rate (ARR) of over $25 million (around Rs 205 crore) as of October 2022. The company plans to utilise this subscription-based money to explore overseas markets, especially, the United States (US), Mint reported. Pocket FM has raised $93.5 funding till date including $65 million in March 2022 and $22.4 million in December 2021.

In its fourth year of operations, the audio-series platform claims to have surpassed 40 billion minutes, which marks a 75 per cent increase in streaming. Its content has reached 733 audio series, registering a 270 per cent year-over-year (Y-oY) increase.

Currently, Pocket FM has a user base of 80 million with a community of over 5,00,000 creators, the company claimed in a statement.

The start-up was founded by IIT-Kharagpur graduates Nishanth Srinivas, Prateek Dixit, and Rohan Nayak in 2018. Talking about their expansion plans, Nayak, co-founder and chief executive officer (CEO), said,” As we successfully discovered the content monetization model in the audio space, our revenue has grown 10x to $25 million ARR in just 12 months. With the continued momentum and expected growth targets, we foresee another 4x growth in our revenue during our fifth year of operations, thus entering into the $100 million ARR club within five years of our operations.".

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