European platform for podcasts and audiobooks Podimo raised $ 78 million in new funding to “accelerate our investments in original and exclusive premium content,” says CEO and founder Morten Strunge.
The Series B cycle brings Copenhagen-based Podimo, which launched in 2019, with total funding of $ 115 million.
Through Variety, the tour was led by 83North and Highland Europe, with the participation of previous investors Chr. Augustine, Heart of heart, Saban Companies, Big title, and Possible companies.
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Podimo says it currently offers over 950 original podcasts, over 30,000 audiobooks and over 800,000 minutes of children’s content. It also offers podcasts from a range of partner platforms and producers like iHeartMedia, Amazon-possesses Marvellous, and German audio site FYEO, as well as series from individual creators such as the author of bestselling detective novels Jo nesbo.
Users can listen to much of Podimo’s content for free, but the subscription (for around $ 5.60 per month) will give them access to over 600 exclusive podcasts and audiobooks. Podimo says that when subscribed users listen to podcasts on its platform, creators earn “50% of the revenue allocated through our user-centric payment system.”
In addition to expanding its libraries of original and exclusive content, Podimo will use new funding to provide “larger payments to creators,” Strunge said in a statement.
Podimo, like many other companies, sees the podcast and audiobook space as “a tremendous opportunity, and with our strategic focus on native language content in local markets, we feel well positioned to capture a substantial part of this. market, ”Strunge added.
Podimo is currently available in Denmark, Germany, Spain, Norway and Latin America.