Personalised radio service Pandora was proud of the fact that it recently had its first profitable quarter, but that hasn’t stopped the company from raising a fifth round of funding. The round – for an undisclosed amount – was led by GGV Capital, with participation from Allen & Company. Pandora says it will be used to fuel further growth, with the company now boasting 50 million registered users. Pandora is set to be one of the flagship apps making use of Apple’s new iPhone OS 4 software, which is likely to drive more usage (and thus more licensing payments to rightsholders). However, the new round won’t dispel the scepticism in some parts of the industry that streaming music startups remain reliant on VC cash to make their numbers add up.