With a reported 30 million monthly unique users, the bragging rights of being the top iOS music app last October and a slew of newly released auto integrations at CES, the under-the-radar TuneIn is sitting pretty. The service, which like iheartradio takes terrestrial radio stations and streams them online, differentiates itself from other contenders in the music space like Pandora and Spotify by offering up traditional radio mainstays like DJs and contests, etc.
And as of this week the company is sitting a little prettier, on some freshly signed terms sheets for a new round of funding from existing investor Sequoia Capital and new investor General Catalyst Partners.
In addition to its previous undisclosed round of $6 million, the company has received between $20 – $30 million from the two investors, according to a source who knows what’s up. I’m still not clear on the exact valuation or whether anyone else will be participating.
The “diamond in the rough” service had super humble beginnings, starting out as the Dallas-based RadioTime and then skyrocketing in usership after it acquired the popular iPhone app TuneIn Radio.
TuneIn is available on the iOS, Android and almost everywhere else.
TuneIn lets people listen to the world’s music, sports and news with over 70,000 stations and over two million on-demand programs streaming from every continent. 40 million people enjoy listening to TuneIn every month on over 200 different connected devices, including automotive dashboards and all smartphone and tablet operating systems. To date, TuneIn has raised venture funding from General Catalyst Partners, Sequoia Capital, Google Ventures and Jafco Ventures, and is headquartered in Palo Alto, California.
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