European Podcast Startup Podimo Raises $78 Million to Fund Content, Market Expansion

Todd Spangler
·2 min read

Podimo, a Copenhagen-based podcast and audio entertainment subscription service, said it closed $78 million in a Series B round of funding.

The round brings Podimo, founded in 2019, to about $115 million raised to date. The latest round was led by 83North and Highland Europe, with participation from existing investors Chr. Augustinus, Heartcore, Saban Ventures, Headline and Possible Ventures.

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Podimo’s premium audio platform offers a lineup of more than 950 original podcasts and audiobooks as well as podcasts from the U.S. and around the world through partnerships with iHeartMedia, Amazon’s Wondery, German audio platform FYEO, and creators like Norwegian crime novelist Jo Nesbø.

Podimo says it operates a “user-centric” revenue-sharing model with creators, under which the company shares membership fees based on the content subscribers listen to each month.

The podcast and audio market is “a tremendous opportunity, and with our strategic focus on content in local markets’ native languages, we feel well positioned to grab a substantial part of this market,” CEO and founder Morten Strunge said in a statement. “With a solid foundation, we can accelerate our investments into premium original and exclusive content from today’s most exciting and important voices, bringing in more users and bigger payouts to creators, while applying our learnings to new market expansion.”

Podimo’s subscription service is currently available in Denmark, Germany, Spain, Norway and across Latin America. The company has offices in Copenhagen, Berlin, Barcelona, Madrid, London, Amsterdam, Mexico City, Oslo and Vilnius.

There are Podimo’s top podcasts by market:

  • Denmark: “Mads & A-holdet” with Mads Steffensen; “Om Søndagen Graeder Vi” with Hella Joof and Marie Louise Tuxen

  • Spain: “Las del Grupo” from Silvia Abril and Toni Acosta; “Lo que tú digas” from Alex Fidalgo; “Sintonías infrecuentes” from Felipe González; “Keep it cutre” from Angela Henche and Albania San Román

  • Germany: “Im Dunkeln – Der Fall Rebecca Reusch”; “Drei ist ‘ne Party!” with Marie Nasemann and Sebastian Tigges; “In extremen Köpfen” with Dr. Leon Windscheid; “Ein Mensch verschwindet” with Daniel Küblböck

  • Norway: “Råning med Tone”; “G-Punktet”; “Bagateller”; “Erotisk Lesesirkel”

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