Copenhagen-founded open podcast platform that offers a subscription service for creators, Podimo has secured €58.6 million in a Series B extension funding round. Continuing along the path of the previous €69.4 million, the extension will be used to propel Podimo’s market position as well as continue to make investments in its technical and product offerings.
Producing its own original content, some 950+ podcasts and audiobooks, listeners across Denmark, Germany, Spain, Norway, The Netherlands, Finland, and Latin America are treated to Podimo’s commitment to a local-first approach. With 93% of podcast and short-form audio listeners preferring their native language, Podimo translates international content to local markets’ native languages, a formula that’s helped hits “Mord i Nord”, “The Missing” and “Swindled” resonate strongly in new markets.
"Our international expansion is progressing beyond expectations, and we continue to see our growth and content strategy scale efficiently. This funding round sends a clear message that our model is working. As we continue to focus on growing our existing markets and opening new ones, we are also building on our extensive catalog of content. With the current market conditions it’s also important to demonstrate financial sustainability, which is why we are pleased to see our first market turn profitable just 3 years after the launch of Podimo, with multiple markets on a similar trajectory.” - Morten Strunge, CEO and Founder, Podimo
Podimo’s €58.6 million Series B up round was led (again) by 83North, Highland Europe, and Saban Ventures, with continued participation from existing investors Chr. Augustinus Fabrikker, Heartcore, and Headline.
“We strongly believe in Podimo becoming the global market leader in spoken-word audio. We led the company’s series A investment in 2020, co-led their Series B in 2021, and would not miss the opportunity to further our investment by co-leading this round,” said Arnon Dinur, partner at 83North.