The market for podcasting is among the world’s fastest-growing content-based industries, with over 23 million weekly listeners in the U.K. Researchers consistently forecast over 25% yearly industry growth through to 2028 and beyond, courtesy of advances in content investment, growth in listeners, and time spent consuming podcasts.
Betting big on the trend, London-based startup specialising in publishing, marketing, and distribution of podcasts, Auddy has plugged in £2.5 million in funding to make its mark in the audio space. The round was led by Pembroke VCT and backed by existing investors Haatch Ventures and Brick Capital Ventures. The investment will help support the company to continue its organic growth and further invest in both technology and content.
Founded in 2020 by Andrew Craissati, Auddy aims to deliver end-to-end premium audio podcast publishing solutions for creators, advertisers and businesses. It focuses on buying and selling inventory in podcasts across the U.K., Germany, Austria and Switzerland and producing podcasts. The platform also offers a ‘private podcasting’ service for organisations to help them share audio content directly with a targeted community in a private environment.
With over 4,000 podcast shows, 12 million monthly downloads and 11 million downloads in the U.K. alone, the startup’s podcasts include popular titles such as Science-ish, Inside the Tour and Smoke Screen.
Andrew Craissati, founder and CEO of Auddy said: “Meeting Pembroke and working with Simon, Fred and Angus has been a thoroughly enjoyable and professional experience. From the first meeting between the Pembroke and Auddy teams, the detailed but agile approach has been refreshingly indicative of exciting times for the future of our partnership.”
Simon Porter, investment director of Pembroke Investment Managers added: “Auddy offers a unique and exciting prospect to businesses looking to use audio as a core part of their communications toolset and is poised to take advantage of surging growth in the podcasting sector over the coming years.”