Venture Funding For Audiophiles: $5 Million Round Picks Up Slacker

1/29/09Follow @bvbigelow

Slacker, the San Diego startup that provides customized music streaming, is apparently no slouch when it comes to raising venture funding.

The firm raised $5 million in bridge financing this week, based on a regulatory filing picked up by Dow Jones VentureWire and VentureDeal. Founded in 2004 and headed by former MusicMatch CEO Dennis Mudd, Slacker raised $13.5 million in a first round of venture funding. The company raised another $40 million in 2007 as it launched its online radio service, which enables users to create their own customized music stations.

Slacker recently announced the availability of Slacker mobile applications for Apple’s iPhone and iPod touch, and for RIM’s BlackBerry smartphones. In the fall, the company also launched a second-generation Slacker music player, a $200 hardware device that enables users to get personalized radio channels that are synced with the online service. Slacker identified its investors in a December filing as Sevin Rosen Funds, Rho Ventures, Centennial Ventures, Mission Ventures, and Austin Ventures.

A spokesman for Slacker did not respond to a request for information.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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