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. Furthermore, it has included 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 more than 50 billion dollars in the next 5 or 6 years, with an increasingly large listening audience that continuously discovers and consumes interesting audio content. It’s a fantastic opportunity, and with our strategic focus on content created in the languages of 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 now 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 and exclusive premium content by contracting the most relevant stories and creators from each market where we operate. We also aim to create new audiences of audio content listeners by generating greater revenue for creators while applying our lessons learned in expanding to new markets. Our app offers a seamless user experience through personalized recommendations powered by AI, as well as visual trailers. As a content producer of all kinds, we have the ability to enrich 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," emphasizes 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 the creation of original content in Spanish to become the leading audio entertainment content platform in Spain and Latin America. In this context, more than 200 recognized creators from Spain and Latin America have firmly bet on Podimo, 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 who will tell their next great story in podcast format. In parallel, around 25 major production companies from Spain and Latin America are closely collaborating with Podimo in the production of major podcasts such as Jarpa Studios, Posta, Así Como Suena, or Anfibia Podcasts,” stated Javier Celaya, general director of Podimo in Spain and Latin America.

“The pay-per-audio-content model has been validated in multiple markets; the time has come to accelerate growth in the markets where Podimo already operates and to open new ones,” says Arnon Dinur, partner at 83North. “The audio market is fascinating and competitive, but few have come as far as Podimo, quickly becoming the leader in the European audio content subscription market in different local languages,” adds Fergal Mullen, partner at 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 operational in Denmark, Germany, Norway, Spain, and 20 Latin American countries. Users and subscribers have access to more than 50,000 open 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 episodes of exclusive podcasts that cannot be listened to anywhere else, as well as other 2,500 audiobooks in Spanish.