Podimo, the Copenhagen-founded subscription service for short manufacture audio tales and podcasts, has raised an additional €11.2 million in funding.
The round is led by Chr. Augustinus investment fund, and comes factual eight months after asserting its €15 million Assortment A. Sleek investors and the Spanish VC Aldea Opportunity Fund additionally participated.
Founded in 2019, Podimo is a podcast and short-manufacture audio platform which offers personalized solutions to listeners, while providing creators a fraction of earnings by technique of top price subscriptions.
Top price participants manufacture get right of entry to to more than 600 shows that are uncommon to Podimo and membership expenses are shared straight with the podcast creators they listen to every month. The service is for the time being live in Germany, Denmark and varied Spanish-talking markets.
Co-founded by Morten Strunge, who has a monitor represent in subscription media merchandise by technique of audio books service Mofibo (which he provided to Storytel), more broadly, Podimo is hoping to capitalise on the upward thrust in consumption in podcasts. The startup’s diverse founders are Nikolaj Koppel, Andreas Sachse, Sverre Dueholm and Eva Lægdsgaard.
“Our dream is to contend with two challenges in the developing podcast commerce,” explains Strunge. “The principle is discoverability, the put we intelligently match listeners to the shriek they fancy. And the 2nd is monetization, the put we present a brand unique circulation of earnings for creators, allowing them to present attention to developing and invest into huge storytelling”.
By providing a freemium mannequin, the put a paid version provides unlimited listening and facets, Strunge believes there is a risk to work carefully with podcast creators to red meat up the podcast ecosystem and manufacture it less reliant on promoting earnings.
“We must develop into the most celebrated partner for creators, by both working carefully with their shriek, curate and match it with each and each particular particular person user, but additionally by providing a in reality helpful monetisation mannequin,” he acknowledged when Podimo announced its Assortment A. The hope is that a more strong earnings circulation will allow unique shriek producers to enter the market and permit existing ones to make more. In turn, that could well well present the monetary headroom to speculate even more effort and time into high of the variety shriek.
“Now we possess seen strong traction on our podcast and short-manufacture audio subscription service… and now more than 50% of our development comes from our global markets,” Strunge tells me. “Our uncommon catalogue has grown to more than 600 uncommon productions, and our imaginative and prescient of constructing out earnings streams to creators of short manufacture shriek in actuality looks to be getting traction”.