Podimo, a podcast provider founded in Copenhagen last year, has raised €15 million in a round led by 83North. Heartcore and e.ventures, who participated in the startup’s €6 million seed round in July 2019, have invested again as well.
The Danish company has built a podcast and short-form audio platform that offers personalised recommendations for users and supports the content creators through a revenue share model, driven by its subscription-based service. While premium membership has access to exclusive content from “well-known and brand new hosts”, the free version of the app links to podcasts from open RSS feeds.
“Podimo’s long-term ambition is to create robust revenue streams to the podcasting community and to be a positive partner to everyone within the ecosystem,” says CEO and co-founder Morten Strunge.
The startup cites that in Europe alone, over 20 percent of people listen to podcasts on a weekly basis. Arnon Dinur, a partner at 83North, commented: “As we are entering a new decade of podcasts, we see that Podimo is a key player in revolutionizing the industry and has a leading role in reshaping consumer and creator experiences.”
So far the audio platform is available in Denmark and Germany. The latest funding will go to developing the platform’s curation and discovery abilities, creating original content, building an analytics feature that allows creators to make data-driven changes to their content, and growing the company’s team.
Photo: CEO and co-founder Morten Strunge