Swedish podcast startup Acast brings in €3.1 million

Swedish podcast startup Acast brings in €3.1 million
Swedish startup Acast is a platform that seeks to help podcast creators to capitalize on their content. The company has just raised €3.1 million from Bonnier and venture capital firm Moor. This comes after an €8 million round last year. The company is now worth about €30 million, according to Breakit.

Acast is an app for podcasts, that connects listeners, podcast creators, and advertisers in an integrated, one-stop shop. The company takes half of the advertising revenue brought in by the podcasts.

The company has also launched a pay version, where listeners can remove ads for a fixed fee per month.

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"What I can say is that the year went according to plan," says found Karl Rosander, as reported by Breakit. "We have well over 1,000 affiliated podcasts now. There are companies like Financial Times, the Economist and the Guardian."

Acast is active in Sweden, the UK, the USA, and is launching in Australia.

"We will launch in two markets during the year. Our biggest challenge now is to really accelerate at the pace we want," added Rosander.

Read more: Breakit (Swedish)

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