Pocket raises $5M to expand save-for-later app to new platforms, devices
Pocket has raised $5 million in Series B financing to expand its save-for-later application to additional devices and platforms. Foundation Capital led the round, with Baseline Ventures and Google (NASDAQ:GOOG) Ventures also participating.
Previously known as Read It Later, the free Pocket service enables users to store web content for future access. In addition to standalone applications for iOS and Android, Pocket is integrated into more than 350 other apps including Twitter, Flipboard and Zite, and also runs on the Google Chrome, Safari and Firefox browsers. Users now save close to a million magazine articles, YouTube videos, recipes and wishlist items every day. "Seventy percent of our users save and view content from more than one device," Pocket founder Nate Weiner adds on the firm's blog.
Beyond making its services available to additional users, Pocket said it will earmark the new funding to expand its staff and improve its technology for developer partners and content providers.
- read this Pocket Blog entry