updated 11:15 am EDT, Wed September 21, 2011
Already up to $20 million so far
Streaming service Stitcher has managed to pull in $10 million in new venture capital funding. The investment is being led by New Enterprise Associates, with earlier backers Benchmark Capital, New Atlantic Ventures, and Ron Conway also contributing. Stitcher has raised about $20 million in total funding to date, All Things Digital observes.
Stitcher attempts to simplify listening to podcasts and radio streams by organizing them into custom playlists. While content can be accessed through the service's website, the focus has been on mobile apps for iOS, Android, BlackBerry and webOS. The company's revenue is derived mostly from advertising inserted in between shows.