Acast has raised $33 million in a series C round of funding, and the Swedish company said it will use its new funds to double down on its global growth.
Sweden-based podcasting platform Acast has raised $33 million in a series C round of funding from Swedish national pension fund AP1, in addition to Swedbank Robur funds Ny Teknik and Fokus Fund.
Founded out of Stockholm in 2014, Acast pitches itself as “the world’s largest podcast marketplace,” constituting a podcast platform that joins the various dots between creators, listeners, and advertisers. It does so through consumer mobile apps; analytics; cloud storage; and programmatic advertising smarts for marketers.
Monetization plays a central part of Acast’s offer to podcasters — just last week it announced a new personalized advertisements product that can tailor ads to the individual based on myriad factors, such as location, weather, time of day, and the device that the listener is using.
