Podimo, the Copenhagen-founded subscription service for short form audio tales and podcasts, has raised a further €11.2 million in funding.
The spherical is led by Chr. Augustinus investment fund, and comes upright eight months after announcing its €15 million Assortment A. Existing investors and the Spanish VC Aldea Opportunity Fund moreover participated.
Founded in 2019, Podimo is a podcast and short-form audio platform which supplies personalized ideas to listeners, while offering creators a portion of income by top fee subscriptions.
Top class contributors gain regain admission to to extra than 600 reveals that are abnormal to Podimo and membership payments are shared straight with the podcast creators they hear to every month. The service is at the moment dwell in Germany, Denmark and loads of Spanish-speaking markets.
Co-founded by Morten Strunge, who has a observe account in subscription media merchandise by audio books service Mofibo (which he sold to Storytel), extra broadly, Podimo is hoping to capitalise on the rise in consumption in podcasts. The startup’s other founders are Nikolaj Koppel, Andreas Sachse, Sverre Dueholm and Eva Lægdsgaard.
“Our dream is to tackle two challenges in the developing podcast industry,” explains Strunge. “The first is discoverability, where we intelligently match listeners to the philosophize material they maintain. And the 2d is monetization, where we present a new inch of income for creators, allowing them to point of interest on creating and invest into gigantic storytelling”.
By offering a freemium model, where a paid model supplies unlimited listening and aspects, Strunge believes there is a possibility to work intently with podcast creators to strengthen the podcast ecosystem and make it less reliant on advertising income.
“We desire to turn into the most in model partner for creators, by both working intently with their philosophize material, curate and match it with every individual client, but moreover by offering a superior monetisation model,” he talked about when Podimo announced its Assortment A. The hope is that a extra distinguished income inch will enable new philosophize material producers to enter the market and enable existing ones to manufacture extra. In flip, that can supply the financial headroom to invest even overtime and effort into excessive-quality philosophize material.
“We maintain seen robust traction on our podcast and short-form audio subscription service… and now extra than 50% of our increase comes from our international markets,” Strunge tells me. “Our abnormal catalogue has grown to extra than 600 abnormal productions, and our vision of building out income streams to creators of short form philosophize material truly appears to be getting traction”.