Podimo, a Copenhagen-based podcast and audiobook subscription service provider, has secured €44 million in a new funding round. The investment was made by the Danish Export Investment Fund (EIFO), HighlandX and Augustinus Fabrikker.
Podimo CEO Morten Strange said: “This investment allows Podimo to continue its strong growth trajectory with a focus on profitability. Our primary focus is to create a robust It’s about cultivating a business model.”
A platform for podcast and audiobook lovers
Founded in 2019 by Morten Strunge, Nikolaj Koppel, Sverre Dueholm, Andreas Sachse and Eva Lægdsgaard, Podimo claims to be Europe’s fastest growing podcast and audiobook subscription service across seven markets doing.
We prioritize local content and diverse voices, and offer ad-free podcasts, global RSS feed content, and audiobooks. The company also offers monetization tools and personalized audio experiences through a combination of human curation and AI.
Podimo reports that the subscription model is successful in the current economic climate. The platform, which has seen an 80% increase in subscriber numbers over the past year, has seen global user engagement, with an average of 20 hours per month and users exploring two to three new shows each week.
CEO Strange said: “We are proud of the trust our listeners place in us, as evidenced by our growing engagement and diversifying content preferences. We remain focused on delivering quality programming and a seamless user experience. The result has been significant growth and sustained enthusiasm from both creators and listeners.”
Podimo is also committed to empowering creators with sustainable monetization and comprehensive support.
The platform leverages data and local expertise to help creators develop formats and grow their audiences, freeing them to focus on producing “great” content.
capital utilization
CEO Strunge said: While profitability remains a key objective, our investment focus goes beyond financial milestones. ”
“We are steadfast in strengthening our product and maintaining a healthy business model that benefits both creators and listeners.”
Podimo is currently available in Denmark, Norway, Germany, Spain, Netherlands, Finland, and throughout Latin America, with plans to expand to more countries soon.