Acast is announcing today that it has raised $35 million in Series C funding, accompanying its total funded to more than $67 million. Investors in the round include AP1( which controls some of the capital in Sweden’s national income pension system ), as well as Swedbank Robur monies Ny Teknik and Microcap.
Ross Adams, who became Acast’s CEO last descent, “ve told me” that the money will allow Acast to expand, both in terms of its product furnishes and the geographies where it operates.
The company has focused on returning engineering to the astonishingly old-fashioned world-wide of podcast promote. In happening, it pioneered the practice of dynamically setting ads into podcasts — as opposed to the pattern where( as Adams kept it ), “When you listen to a five-year-old podcast, you’ll examine the emcee read a five-year-old ad.”
Earlier this year, it announced a partnership with the BBC, countenancing the BBC’s podcasts to remain ad-free in the United Kingdom while inserting ads everywhere else.
“We don’t mind if your show is absolutely huge or perfectly tiny, ” Adams said. “The model we have allows a serious mainstream publisher like the BBC to monetize — or a bedroom podcast hobbyist.”
At the same time, Adams craves Acast to support other business examples. It’s already experimenting with paid, premium material through its Acast+ app, but it definitely sounds like there are more paid podcast products in the works: “We want to be that center station of monetization,[ whether] they make money through marketing or they’re looking at premium offerings.”
As for geographic expansion, Acast says it put in place in Ireland, New Zealand and Denmark this year. It too plans to grow in the United States, which are now represents 25 percent of all listens on the platform.
Acast is also looking to bring podcast monetization into new hardware — Adams said the company has invested much of the past time focused on the smart talker grocery. Those talkers present new opportunities for material( Adams said it’s little about “longer-form storytelling” and more “short-form pictures for your daily uptake in the morning” ), and new challenges for advertising.
Adams is hoping that if Acast can solve those challenges, it won’t only be monetizing the smart dwelling sell, but also moving into automobiles and anywhere else you might find “voice-enabled technology.”
Read more: techcrunch.com