A Dubai-based podcast startup has raised $5.4m in funding as it looks to provide content creators with a platform to distribute and monetise audio.
Podeo announced the $5.4m funding round to support podcasters in overcoming the discoverability challenge.
The Series A funding round was led by Oraseya Capital (the VC arm of the Dubai Integrated Economic Zones Authority) with participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital.
Podeo Dubai funding
Podeo offers an all-in-one platform for podcasters, streamlining everything from content creation and distribution to monetisation.
At a time when audio discoverability is an ever-growing challenge, Podeo’s exclusive distribution integrations transcend traditional streaming apps, unlocking unprecedented exposure across radio stations, airlines, ride-hailing services, gaming, and chat apps.
With a thriving community of more than 100,000 creators and a global audience of more than 50m listeners, Podeo is breaking barriers to reach and empowering independent voices to be heard like never before.
There are more than 500 million podcast listeners worldwide today, and the global podcasting market is expected to grow ninefold from $27bn in 2023 to over $234bn by 2030.
With listeners completing approximately 80 per cent of any given podcast episode, it is unsurprising that worldwide ad spending is projected to reach $4.02bn in 2024. Amid this explosive growth, discoverability remains the greatest hurdle for podcasters.
Founded by Stefano Fallaha, Anthony Essaye, and Mario Hayek in 2020, Podeo started as a podcast app with exclusive content but quickly evolved into anend-to-end platform. Shifting from a destination-first to a distribution-first model, Podeo is redefining how podcasts are delivered and monetised.
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