Pocket Raises $5 Million In Series B

Posted Jul 19, 2012

Pocket has raised $5 million in Series B funding led by Foundation Capital.  Baseline Ventures and Google Ventures also participated in this round of funding.

This round of funding follows a previous round of $2.5 million where all three VC companies also participated.  This is considered a follow-on round.

Pocket plans to use this round of funding to expand their application to other platforms and devices.  They will also hire more employees and improve their services for partners.  Pocket lets users save content on the web to read for later.

The company is often compared to Instapaper, but Pocket was created before them.  Pocket founder Nate Weiner has been bootstrapping Pocket before raising the funds.