The funding will help Podimo move into new European markets and expand its content catalog. Here are the top-line bullets you need to know.
Podimo, a podcast platform, has raised $78M in a Series B round that drew participation from 83North, Saban Ventures, Headline, and Heartcore Capital, among others.
HOW’S THE COMPANY PERFORMING?
- Denmark-based Podimo is a podcast and short-form audio platform focused on providing personalized recommendations to users. It offers a mix of RSS-feed content, selected podcasts and audiobooks, and its own original content.
- It hosts 30,000+ audiobooks, 250,000+ minutes of exclusive podcasts, and 800,000+ minutes of entertainment for kids.
- The company has established partnerships with content producers such as FYEO, iHeartMedia, and Wondery in order to source local content from various parts of the world.
- Podimo offers subscription services to customers in Denmark, Norway, Germany, Spain, and 20 countries in Latin America.
- It has a team of more than 100 people across offices in Copenhagen, London, Barcelona, Madrid, Berlin, Oslo, Amsterdam, Mexico City, and Vilnius.
WHY DOES THE MARKET MATTER?
- The global podcasting market is expected to reach a value of $94.9B by 2028, growing at a CAGR of 31.1%, according to Grand View Research.
- The advancement and proliferation of mobile devices, such as smartphones, tablets, and laptops, have contributed to market growth.
- The market also benefitted from the rise in digital content consumption amid the Covid-19 pandemic.