Podimo , the Copenhagen-founded subscription service for short form audio stories and podcasts, has raised an additional €11.2 million in funding.
The round is led by Chr. Augustinus investment fund, and comes just 8 months < a href="https://techcrunch.com/2019/07/02/podimo/"> after asserting its €6 million Series Your own . Existing investors, and the Spanish VC Aldea Opportunity Fund on a participated.
Founded with regard to 2019, Podimo is a podcast in addition to the short-form audio platform which offers unique recommendations to listeners, while offering builders a share of revenue implies premium subscriptions.
Premium members gain access to excessively 600 shows that are exclusive so that you Podimo and membership fees are usually shared directly with the podcast game designers they listen to each month. The ability is currently live in Germany, Denmark furthermore carious Spanish speaking markets.
Co-founded by Morten Strunge, who has a track record in subscription media products via audio books maintenance Mofibo (which he sold to Storytel), more broadly, Podimo is seeking to15328 capitalise on the rise in consumption present in podcasts. The startup’s other vendors are Nikolaj Koppel, Andreas Sachse and Sverre Dueholm.
“Our dream continually to address two challenges in the fast developing podcast industry, ” explains Strunge. “The first is discoverability, during which we intelligently match listeners inside the content they love. And the excellent is monetization, where we provide brand new stream of revenue for producers, allowing them to focus on creating and precious time into great storytelling”.
By offering a freemium model, when a paid version provides unlimited play back and features, Strunge believes they have an opportunity to work closely with podcast creators to strengthen the podcast ecosystem and make it less reliant to do with advertising revenue.
“We want to become the preferred partner at creators, by both working directly with their content, curate and meet it with each individual user, but also by offering a superior monetisation model, ” he said when Podimo proclaimed its Series A. The chances is that a more robust revenue buffer will enable new content brands to enter the market and allow existing companies to earn more. In turn, that might provide the financial headroom to invest a little more time and effort into high quality content.
“We have seen strong the traction on our podcast and short variety audio subscription service… and now during 50% of our growth comes from this useful international markets, ” Strunge tells me. “Our exclusive catalogue has grown on the way to more than 600 exclusive productions, because our vision of building out salary streams to creators of small form content really seems to be generating traction”.
