Main Highlights:
- Auddy has just received $2.95 million in funding
- The Source of Funding
- Platform for premium podcasts
Auddy has just received $2.95 million in funding for its end-to-end audio podcasting solutions. The London startup intends to expand.
Podcasts are becoming one of the most popular means of information consumption. Podcasts are an increasingly regular companion for many of us as we go about our everyday lives, whether it’s during the daily commute or while cleaning up the house. From political podcasts that spark thoughtful debates about the world around us to community-based, mental health and wellbeing programmes, not to mention instructive guides and hilarious tales, there is something for everyone to listen to.
With over 23 million weekly listeners in the United Kingdom, podcasting is one of the world’s fastest-growing content-based industries. Researchers routinely estimate annual market growth of more than 25% through 2028 and beyond, owing to increases in content investment, growth in listeners, and time spent reading podcasts.
Auddy, a London-based firm that specialises in podcast production, marketing, and distribution, has invested £2.5 million in order to establish its impact in the audio industry. Pembroke VCT led the round, which was supported by previous investors Haatch Ventures and Brick Capital Ventures. The investment will assist the firm in continuing its organic expansion and investing in both technology and content.
Andrew Craissati founded Auddy in 2020 with the goal of providing end-to-end premium audio podcast publishing solutions for authors, advertising, and enterprises. It focuses on purchasing and selling podcast inventory in the United Kingdom, Germany, Austria, and Switzerland, as well as producing podcasts. The site also provides a ‘private podcasting’ service enabling businesses to distribute audio material directly with a specific group in a private setting.
The startup’s podcasts include popular titles such as Science-ish, Inside the Tour, and Smoke Screen, and it has over 4,000 audio episodes, 12 million monthly downloads, and 11 million downloads in the United Kingdom alone.
“Meeting Pembroke and working with Simon, Fred, and Angus has been a genuinely fun and professional experience,” stated Andrew Craissati, founder and CEO of Auddy. The meticulous but nimble attitude of the Pembroke and Auddy teams has been pleasantly symbolic of exciting times for the future of our cooperation since the first meeting.”
The Source of Funding
The round was led by Pembroke VCT and backed by existing investors Haatch Ventures and Brick Capital Ventures. It’ll be used to help support further growth plans as well as fuel investment in tech and content development.
Andrew Craissati, founder and CEO of Auddy said: “Meeting Pembroke and working with Simon, Fred and Angus have been a thoroughly enjoyable and professional experience. From the first meeting between the Pembroke and Auddy teams, the detailed but agile approach has been refreshingly indicative of exciting times for the future of our partnership.”
Platform for premium podcasts
Auddy is an end-to-end podcast publishing solution founded in 2020 by Andrew Craissati. The platform’s goal is to assist creators, sponsors, and companies in producing and marketing quality episodes. It focuses on purchasing and selling podcast inventory in the United Kingdom, Germany, Austria, and Switzerland, as well as lowering podcasts.
It also provides a private podcasting solution to assist organisations in sharing audio information directly with their targeted group in a more private setting.
Audio content consumption is increasing, with an estimated 23 million weekly podcast listeners in the United Kingdom alone. According to research, this growth will continue at a rate of more than 25% through 2028 and beyond, owing to increased investment and inventiveness in content, as well as ongoing listener engagement.
Auddy has already recorded almost 4,000 podcast episodes, 12 million monthly downloads, and 11 million downloads in the United Kingdom. Science-ish, Inside the Tour, and Smoke Screen are all popular titles.
“Auddy provides a unique and intriguing opportunity to businesses wishing to use audio as a fundamental component of their communications toolkit and is prepared to take advantage of booming development in the podcasting industry over the next years,” said Simon Porter, investment director at Pembroke Investment Managers.