SLACKER DRAWS $40 MILLION FOR digital music service

Music service Slacker closed a $40 million second round of funding from Centennial Ventures, Rho Ventures, Austin Ventures, Mission Ventures and Sevin Rosen Funds. The company earlier raised a $14 million Series A round. Similar to Pandora, Slacker is an Internet radio service that recommends new songs based on learned listener music preferences.

Slacker offers a software-based digital music player for the desktop. The company plans to expand to portable and car-based players with the same streaming music and recommendation features. The players will also integrate WiFi Internet access and satellite radio.