Podimo, the leading platform for podcasts and audiobooks in Spanish, has announced a new funding round of 78 million dollars led by 83North and Highland Europe. Additionally, it has seen the participation of existing investors, such as Chr. Augustinus, Heartcore, Saban Ventures, Headline, and Possible Ventures.

"It is estimated that the audio content industry (podcasts, audiobooks, audio series, etc.) will represent over 50 billion dollars in the next 5 to 6 years, with a growing listening audience that continually discovers and consumes interesting audio content. It is a fantastic opportunity, and with our strategic approach based on content produced in the languages of the different local markets, we feel well-positioned to capture a substantial part of this market," says the CEO and founder, Morten Strunge.

With this new funding round, the audio platform has already received a total investment of 115 million dollars. "In this new phase of the company, our goal is to intensify the acquisition of new original premium content by contracting the most relevant stories and creators in each market where we operate. We also aim to create new audiences of audio content listeners by generating higher revenues for creators, while applying our lessons learned from expanding into new markets. Our app offers a seamless user experience through AI-driven personalized recommendations, as well as visual trailers. As a content producer of all kinds, we have the ability to enrich the existing intellectual property in new and exciting ways, as well as produce our own content, testing what listeners can expect from audio content, both now and in the future," highlights Morten Strunge, CEO of Podimo.

“In just one year, we have been able to create an impressive catalog in Spanish at Podimo with over 3,000 episodes of exclusive podcasts, becoming the platform that has created the most original content in 2021 in this language. Thanks to this new funding round, our goal is to double our investment in creating original content in Spanish to become the leading platform for audio entertainment content in Spain and Latin America. In this context, over 200 renowned creators from Spain and Latin America have strongly bet on Podimo by creating original content in podcast format for our platform: from Alberto Lati, Beto Tavira, Eduardo Sacheri, Yiyo Alfaro, Choché Romano, Pamela Cerdeira, Antonio Ortuño, Diego Petersen, Sissi Cansino, Florencia Alcaraz, Dani3Palacios, among many other prestigious creators to tell their next great story in podcast format. Meanwhile, about 25 large producers from Spain and Latin America are closely collaborating with Podimo in producing major podcasts such as Jarpa Studios, Posta, Así Como Suena, or Anfibia Podcasts,” declared Javier Celaya, General Director of Podimo in Spain and Latin America.

“The pay-per-content model for audio has been validated in multiple markets; the time has come to accelerate growth in the markets where Podimo already operates and open new ones," says Arnon Dinur, partner of 83North. "The audio market is fascinating and competitive, but few have gone as far as Podimo, quickly becoming the leader in the European subscription audio content market in different local languages," adds Fergal Mullen, partner of Highland Europe.

About Podimo

Podimo is one of the leading European audio platforms that supports creators through a new user-centered revenue-sharing model. It is currently operating in Denmark, Germany, Norway, Spain, and 20 countries in Latin America. Users and subscribers have access to over 50,000 open-access podcasts in Spanish, as well as completely new and unique programs that cannot be found anywhere else. Podimo's paying users will have access to over 200 original programs in Spanish, representing a catalog of 3,000 exclusive podcast episodes that cannot be heard anywhere else, as well as another 2,500 audiobooks in Spanish.