Denmark’s Podimo has announced raising $78m Series B round, making it one of the largest Europe rounds for an audio tech company in 2021. The round was led by London VCs 83North and Highland Europe.
Podimo is bridging the gap in audio content between podcast platforms and audiobook companies like bt providing RSS-feed content, podcasts and audiobooks and its own productions. Today’s raise was led by London-based VCs 83North and Highland Europe.
Launched in 2019, Podimo is currently available in Denmark, Germany, Spain and Norway. The company has a strong focus on local language content; they have been translating Danish bestsellers to German, for example.
“Where we’re differentiating ourselves is that if you look at non-English speaking markets, the vast majority of consumption of short-form audio and also audiobooks happens in the native language, actually more than 90%. So it’s extremely important to be there in the local markets and to build a catalogue of local content,” says Morten Strunge, founder of Podimo.
“What we’re also building as a sizeable catalogue of our own IP, which is interesting from an investor perspective; we’re actually able to create hit shows that take a substantial part of the consumption, where we then actually sit on the IP,” Strunge adds.