Online radio programmer Slacker is clearly playing against type. The company has raised $40 million in a second round funding, following a $13.5 million first round earlier this year, PEHub reported. The San Diego-based company is being funded by Centennial Ventures and Rho Ventures, which participated in the most recent round. Slacker’s previous investors, Austin Ventures, Mission Ventures and Sevin Rosen Funds, returned for the second round as well.
PEhub compares the company to LastFM, which was recently bought by CBS for $280 million, though it says Slacker has a more ambitious business plan. Aside from just offering a desktop music player (a la LastFM) Slacker is creating its own WiFi-enabled mobile player device, which will allow users to take their personalized radio with them on the go. Secondly, the Slacker device also can be enabled with a satellite linkup, so that service can be maintained even when WiFi is unavailable, such as in a car.