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Sunday, May 29, 2022

$78M series B round for the Danish audio platform

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.

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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.


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