Podimo

Copenhagen-founded open podcast platform that offers a subscription service for creators, Podimo has secured €58.6 million in a Series B extension funding ...

[83North](https://www.83north.com/), [Highland Europe](https://www.highlandeurope.com/), and [Saban Ventures](https://www.sabanventures.com/), with continued participation from existing investors [Chr. “We strongly believe in Podimo becoming the global market leader in spoken-word audio. [Podimo](https://podimo.com/en/) has secured €58.6 million in a Series B extension funding round. As we continue to focus on growing our existing markets and opening new ones, we are also building on our extensive catalog of content. Augustinus Fabrikker](https://augustinusfabrikker.dk/en/), [Heartcore](https://www.heartcore.com/), and [Headline](https://headline.com/). Producing its own original content, some 950+ podcasts and audiobooks, listeners across Denmark, Germany, Spain, Norway, The Netherlands, Finland, and Latin America are treated to Podimo’s commitment to a local-first approach.

Podimo, a Copenhagen-based podcast and audiobook subscription platform, has raised €58.6 million in new funding, CEO Morten Strunge tells Axios.

[Zelensky visits recaptured Ukrainian city of Izyum](/2022/09/14/zelensky-visit-izyum) - "It's cheaper to produce audio than it is to produce video, and we're not relying on rights holders like in the music industry," Strunge says. - "We're actually ahead of plans and have also spent less cash than anticipated," Strunge says. "So we've always had a global mindset for Ethic." [Ukraine's counter-offensive](https://www.axios.com/2022/09/09/ukraine-offensive-kharkiv-izyum-russia). Details: The round was led by 83North, Highland Europe and Saban Ventures. Why it matters: Cue the M&A. Augustinus Fabrikker, Heartcore and Headline also participated. [JustInvest](https://www.wsj.com/articles/investment-giant-vanguard-buying-justinvest-to-help-advisers-customize-portfolios-11626188378); BlackRock of Aperio; Morgan Stanley of [Parametric Portfoli](https://www.advisorhub.com/morgan-stanley-brokers-reap-benefits-of-direct-indexing-exec/) [o](https://www.advisorhub.com/morgan-stanley-brokers-reap-benefits-of-direct-indexing-exec/). [Exclusive: Meghan and Harry-backed fintech Ethic raises $50M](https://www.axios.com/pro/fintech-deals/2022/09/14/meghan-and-harry-backed-fintech-ethic-50-million) Why it matters: The funding round shows continued inflows into value-based investing even in a market downturn, and it highlights the move toward personalization of portfolios. - Similar to how that deal "jumpstarted" the platform's expansion into the Netherlands, Strunge says Podimo is looking to acquire more content studios in other regions.

Podimo company says that the funding will go towards market expansion, content, and enhanced investments in tech and product. The Podimo app is currently ...

Arnon Dinur, partner at 83North, said: “We strongly believe in Podimo becoming the global market leader in spoken-word audio. “This funding round sends a clear message that our model is working. “Audio entertainment is rapidly becoming a substantial part of consumers’ time spent on entertainment and media.” Augustinus Fabrikker, Heartcore and Headline. Podimo CEO and Founder Morten Strunge said: “Our international expansion is progressing beyond expectations, and we continue to see our growth and content strategy scale efficiently. “Our international expansion is progressing beyond expectations, and we continue to see our growth and content strategy scale efficiently.”

Podimo, a Copenhagen, Denmark-based provider of a subscription service for podcasts and audiobooks, raised an additional €58.6m in funding.

The app is currently available in Denmark, Germany, Spain, Norway, The Netherlands, Finland, and across Latin America. The company intends to use the funds for market expansion, content and enhanced investments in tech and product. [Podimo](https://podimo.com/en), a Copenhagen, Denmark-based provider of a subscription service for podcasts and audiobooks, raised an additional €58.6m in funding.

Copenhagen-based Podimo, a podcasts and audiobooks platform that offers a subscription service for creators, announced on Wednesday that it has raised ...

Currently, the app is available in Denmark, Germany, Spain, Norway, The Netherlands, Finland, and across Latin America. It is an independent channel with specific content for children between 2 and 10 years old. Previous fundraises include €11.2M in February 2021, €15M in a Series A round in May 2020, and [€6M](https://siliconcanals.com/news/this-copenhagen-based-startup-wants-to-become-the-netflix-for-podcasts-in-europe-secures-e6m-funding/) in July 2019. Morten Strunge says, “We believe that spoken-word audio calls for a different and tailored product experience. With the current market conditions, it’s also important to demonstrate financial sustainability, which is why we are pleased to see our first market turn profitable just three years after the launch of Podimo, with multiple markets on a similar trajectory.” Augustinus Fabrikker, Heartcore and Headline.

Podimo, a Copenhagen-based audiobook and podcast platform, has raised $59 million and achieved profitability in Denmark, according to execs.

As we continue to focus on growing our existing markets and opening new ones, we are also building on our extensive catalog of content,” stated the Augustinus Fabrikker (“Christian Augustinus Industries”), Reddit investor Heartcore, and former [Apple](https://www.digitalmusicnews.com/2022/08/05/apple-music-resident-advisor-podcast/) and [SiriusXM](https://www.digitalmusicnews.com/2022/05/23/conan-o-brien-sells-podcast-company-siriusxm/) are continuing to make high-profile podcasting moves of their own, and evidence suggests that YouTube could be [positioned to expand its presence in the sphere](https://www.digitalmusicnews.com/2022/08/23/youtube-podcasts-launch/). [invested heavily](https://www.digitalmusicnews.com/2022/07/29/spotify-sonantic-findaway-acquisition-costs/) in podcasting, and particularly because the streaming giant is preparing to roll out audiobooks [“very soon,”](https://www.digitalmusicnews.com/2022/09/08/spotify-cfo-podcasting-profit/) it’ll be worth following the competition in spoken-word entertainment moving forward. According to the corresponding release, existing backers 83North and Highland Europe (both of which are headquartered in London) led the €58.6 million round with Tel Aviv’s Saban Ventures. [unveiling](https://www.digitalmusicnews.com/2021/11/24/podimo-series-b/) a roughly $78 million Series B funding round, audiobook and podcast platform Podimo has announced a €58.6 million (currently $58.99 million) raise and claimed that it managed to increase “the amount of paying members 5x year on year.”