Chevy Chase, Md. – New Enterprise Associates (NEA), the Chevy Chase-based venture capital firm, has led a new $10 million round of funding for San Francisco-based Stitcher, the developer of a personalized Internet talk radio service delivered directly to mobile devices. Previous backers Benchmark Capital, New Atlantic Ventures and individuals including Ron Conway also participated in the company’s third round.
Stitcher said it will use the funding to fuel growth, build out a direct sales team and drive product development, including enhancing its platform for content partners.
Stitcher lets listeners create personalized stations from more than 6,000 shows that cover areas such as news, entertainment, sports and comedy. The shows are continuously updated with new episodes and content on a listener’s mobile device. Ravi Viswanathan, a general partner at NEA, will join Stitcher’s board.
This article was also published in Potomac Tech Wire.
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