Podcasting technology company ART19 announced it has closed a $7.5 million Series A round led by Bertlesmann Digital Media Investments (BDMI) and DCM Ventures. Other investors that participated in the round include United Talent Agency, Gallo Digital, Zach Coelius, and Array Ventures.
ART19, which has experienced exponential download growth since it launched into beta two years ago is expecting revenue to grow by 300 percent in 2017. The podcast hosting platform provides features, such as its proprietary WarpFeed technology for dynamic ad insertion, to help publishers increase revenues as well.
“There are now more people listening to podcasts in the US than using Twitter,” said Sean Carr, Founder and CEO of ART19. “Our mission is to offer content creators and advertisers tools that help monetization of the medium catch up with that scale. This capital will enable us to greatly accelerate product development and continue supporting revenue growth for our customers.”
“More than 50 percent of podcast listening now happens internationally,” added Carr. “ART19 will soon be expanding into foreign markets. Bertelsmann’s international footprint and DCM’s networks in Asia and elsewhere will open doors for us in many key markets. We’re very excited about our new partners. They’re bringing a lot more than money to the table.”