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Sunday, September 24, 2023

Swedish audio and e-book online platform raises €3.3M seed

Stockholm-based digital content platform Sesamy has collected €3.3 million in a seed round led by GP Bullhound. Co_Made, Tham Invest, Brofunds, Måns Ulvestam, Karl Rosander and Hållbar also participated the round. The startup’s platform enables users to purchase single audiobooks, e-books, and podcasts. This capital injection will boost the startup’s growth and expansion into new lands. The additional seed funding brings Sesamy’s total raise to €7.3m to date.

Founded in March 2021 in Stockholm, Sesamy provides a comprehensive model for the consumption and monetisation of digital content, and a streamlined alternative to existing subscription models, whilst simultaneously driving a more transparent exchange between consumers and creators of content across the internet. The company has partnered with every major book publisher in Sweden and Denmark, to offer its users the option to purchase eBooks, audiobooks, and podcasts as single-purchases that can be consumed on any app or device.

The investment capital will be used to provide a new tech-driven approach to monetising news and magazines, particularly through its groundbreaking technology SmartID, launched in October 2022 with Swedish publication Breakit, which enables publishers to monetise non-subscribed readers, without cannibalising their existing revenues from digital subscriptions. The software will also include built-in price optimisation that suggests a fair price to readers and publishers alike to maximise revenues through in-depth analytics, ensuring that the platform remains at the cutting edge of usability.

Sesamy, Måns UlvestamMåns Ulvestam, CEO and Co-founder of Sesamy, commented: “At Sesamy, our goal is a simple yet comprehensive one: to bring back open to the internet. This is why our paywall technology is transparent and flexible for both digital content creators and consumers alike; giving consumers the option to make single purchases of articles whilst ensuring subscription revenues are not cannibalised.”

Karl Rosander, Chairman and Co-founder of Sesamy, added: “Informed by data and analytics, our ability to provide a smart paywall to businesses seeking incremental revenue streams at a time of great economic uncertainty has never been more crucial; underpinning quality journalism with a sustainable model for monetisation fit for the modern age.”

Sesamy, GP Bullhound, Per RomanPer Roman, Managing Partner and Co-founder of GP Bullhound, commented: “We are thrilled to be continuing this exciting journey with Sesamy in the pursuit of making premium digital content accessible to all. We firmly believe that Sesamy will play a vital role in democratising access to content over the coming decade, and we look forward to supporting them on this exciting journey.”

GP Bullhound invested through Fund V. Other recent investments include EcoVadis, Connex One, Typeform, HackerOne, Whoop, Patreon, DuckDuckGo, Discord, Revolut, and Klarna, among many others.

Click to read more funding news.

Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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