Behold! Someone is investing in a podcast company
Technology
Behold! Someone is investing in a podcast company
VCs have cooled on audio companies, but audiobook and podcast subscription service Podimo has managed to raise nearly $50 million.
Could it be a sign that the tide is turning? Danish podcast and audiobook subscription service Podimo announced a new funding round worth €44 million ($48.4 million). Participants in the round include previous investors Augustinus Fabrikker and HighlandX, as well as the Danish Export and Investment Fund.
“This investment allows Podimo to continue our strong growth trajectory while orienting the company towards profitability,” Morten Strunge, CEO of Podimo, said in a statement. “This funding isn’t solely about financial support. While profitability remains a key objective, our investment focus extends beyond financial milestones. We are resolutely committed to enhancing our product and sustaining a healthy business model that benefits creators and listeners alike.”
Start your Hot Pod free trial now to continue reading
This story is exclusively for subscribers of Hot Pod. Subscribe to a plan below for full access.
START YOUR TRIAL
START YOUR TRIAL
START YOUR TRIAL
Already a Hot Pod subscriber?Sign in
We accept credit card, Apple Pay, and Google Pay. Having issues?Click here for FAQ