Podimo, the Copenhagen-founded subscription service for short form audio stories and podcasts, has raised an additional €11.2 million in funding.
The round is led by Chr. Augustinus investment fund, and comes just 8 months after announcing its €6 million Series A. Existing investors, and the Spanish VC Aldea Opportunity Fund also participated.
Founded in 2019, Podimo is a podcast and short-form audio platform which offers personalized recommendations to listeners, while offering creators a share of revenue via premium subscriptions.
Premium members gain access to over 600 shows that are exclusive to Podimo and membership fees are shared directly with the podcast creators they listen to each month. The service is currently live in Germany, Denmark and carious Spanish speaking markets.
Co-founded by Morten Strunge, who has a track record in subscription media products via audio books service Mofibo (which he sold to Storytel), more broadly, Podimo is hoping to capitalise on the rise in consumption in podcasts. The startup’s other founders are Nikolaj Koppel, Andreas Sachse and Sverre Dueholm.
“Our dream is to address two challenges in the developing podcast industry,” explains Strunge. “The first is discoverability, where we intelligently match listeners to the content they love. And the second is monetization, where we provide a new stream of revenue for creators, allowing them to focus on creating and invest into great storytelling”.
By offering a freemium model, where a paid version provides unlimited listening and features, Strunge believes (Read more…)