US-based content saving platform Pocket closed a $7m funding round yesterday that included contributions from publishing house Axel Springer and internet company Digital Garage.
Venture capital firm New Enterprise Associates led the round, which featured Sound Ventures, Foundation Capital, Queensbridge Venture Partners, Kyle Bruck and Jared Kopf.
Pocket has created a platform for web content curation, enabling it to be saved and consumed at any time.
The company, which announced the funding in conjunction with the launch of a new responsive web app, will use the financing to build its team, develop new products and form deeper collaborations with partners.
Nate Weiner, Pocket’s CEO, said: “Along with the launch of our responsive web app, this new capital lays the foundation for some incredible new things coming to Pocket’s platform this year.
“It will enable us to grow our team faster while continuing to put Pocket everywhere a user finds or consumes content. We are beyond excited about this new investment and we couldn’t ask for a better set of partners to work with us in realising Pocket’s mission.”
Pocket previously raised $2.5m from investors including Google Ventures, the corporate venturing arm of internet company Google, Foundation Capital, Baseline Ventures and Founder Collective in a 2011 series A round before raising $5m from Google Ventures, Foundation and Baseline the following year.