Behold! Someone is investing in a podcast company

By wazup on December 21, 2023 Comments Closed / 79 views

It’s been a rough year for the podcasting industry, but Danish company Podimo has managed to raise nearly $50 million.

By Ariel Shapiro, lead reporter of Hot Pod, a newsletter covering podcasting and the audio industry. She previously worked at Forbes, where she covered media and entertainment.

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Behold! Someone is investing in a podcast company

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.”