Podimo Funding, Investors & Competitors

Podimo has raised $221M across 6 funding rounds, most recently a $49M undisclosed-stage round in December 2023.

Last Podimo funding round

$49M

Undisclosed stage · Dec 2023

Cumulative funding Podimo raised

$221M

across 6 funding rounds

Key investors in Podimo

  • Headline
  • Heartcore Capital
  • Chr. Augustinus Fabrikker
  • 83North
  • Highland Europe
  • Possible Ventures
  • Aldea Ventures
  • Saban Ventures

Podimo Overview

About Podimo

Podimo is a Copenhagen-based audio streaming platform offering podcasts, audiobooks, and short-form audio content through a subscription model, founded in 2019 by Morten Strunge and co-founders. The platform operates in Denmark, Norway, Germany, Spain, the Netherlands, Finland, and Latin America, charging a monthly subscription fee and sharing revenue directly with creators. Podimo hosts several hundred exclusive podcast shows and tens of thousands of audiobooks, and has achieved profitability in its home market of Denmark.


Founded

2019

HQ

DenmarkCopenhagen

Website

podimo.com

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

Podimo Funding History

Podimo has raised a total of $221M across 6 funding rounds.

Podimo's first fundraising round was a $7M seed round in July 2019. The most recent completed round was a $49M undisclosed-stage round in December 2023.

Podimo funding rounds

Podimo funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2023Undisclosed stageHighland Capital Partners; Chr. Augustinus Fabrikker; Export and Investment Fund$49MPodimo is a Copenhagen-based podcasting and audiobook subscription platform offering a Netflix-style monthly fee model, available in markets including Denmark, Norway, Germany, Spain, the Netherlands, Finland, and Latin America, charging $5-7 per month. It provides exclusive podcasts, audiobooks, and tools for creators, with around 350 weekly shows from approximately 350 creators and average user engagement of 20 hours per month as of late 2023. The company achieved profitability in its home market of Denmark and aimed for profitability across all markets. On December 21, 2023, Podimo raised €44 million ($48 million, reported as $48.15M in some sources) in an all-equity Series B - IV round led by the Danish Export and Investment Fund (EIFO), with participation from Chr. Augustinus Fabrikker and Highland Capital Partners (HighlandX). This upround followed prior funding totaling just over €200 million, including a €58 million round in September 2022, bringing total raised to around $255 million across multiple rounds by that point. Funds were allocated to enhance production tools, expand distribution networks, deepen localization efforts, enter new countries, invest in technology like Conversational Search (a chatbot for content discovery) and AI tools, and pursue profitability while supporting creators and listeners. The round underscored investor confidence amid podcast market growth approaching half a billion global listeners. Traction included an 80% subscriber base growth over the prior year; later figures mention 1 million paid subscribers by February 2025. Podimo operated in a competitive spoken audio ecosystem, differentiating via its three-tiered content and revenue-sharing model for listeners and creators, with over 70,000 audiobooks and 1,000 exclusive podcasts noted later.
Sep 2022Series B83North (lead); Highland Europe (lead); Saban Ventures (lead); Chr. Augustinus Fabrikker; Heartcore Capital; Headline$57MPodimo is a Copenhagen-based streaming platform for podcasts, audiobooks, audio series, and short audio content, offering personalized recommendations and a subscription model that supports creators through income sharing. Founded in 2019 by Morten Strunge (CEO), Nikolaj Koppel, Sverre Dueholm, Andreas Sachse, and Eva Lægdsgaard, it operates in Denmark, Germany, Spain, Norway, Latin America, the Netherlands, and Finland. The company raised approximately €58.6-69 million ($79M) in a Series B funding round on or around September 14, 2022, led by 83North, Highland Europe, and Saban Ventures, with participation from Chr. Augustinus Fabrikker, Heartcore Capital, Headline, and Possible Ventures. This followed a prior $78M Series B in late 2021 and earlier raises totaling nearly $40M, bringing cumulative funding to around €160M by September 2022. The funds are earmarked for international expansion, content acquisition, technology and product enhancements, and accelerating growth in existing and new markets. Podimo reported 5x year-over-year growth in paying members and became Europe's fastest-growing podcast and audiobook subscription service in 2022. It doubled its employee count since 2021, acquired Dutch production company Dag en Nacht, and partnered with Disney. Investors highlighted Podimo's local-first creator approach, best-in-class app, and potential to lead in spoken-word audio entertainment. Later rounds include additional Series B extensions, such as $48.15M on December 21, 2023, from Chr. Augustinus Fabrikker, Denmark’s Export and Investment Fund, and Highland Capital Partners, and a small $2.29M Series B-V in May 2025, with cumulative funding exceeding $250M.
Nov 2021Series B83North (lead); Highland Europe (lead); Possible Ventures; Chr. Augustinus Fabrikker; Heartcore Capital; Saban Ventures; Aldea Ventures; Headline$79MPodimo is a Copenhagen-based audio streaming platform offering podcasts, audiobooks, audio series, and short-form audio content with personalized recommendations and a subscription model that shares revenue directly with creators. Launched in 2019, it operates in Denmark, Germany, Spain, Norway, and Latin America, emphasizing local language content by translating international shows and producing over 950 exclusive originals by late 2021. The company differentiates through its user-centric revenue sharing, AI-driven personalization, and hybrid model of subscriptions and ads, positioning it as a European leader in localized short-form audio. In November 2021, Podimo closed a Series B funding round of approximately €69 million ($78 million / DKK 436 million), led by 83North and Highland Europe, with participation from existing investors including Chr. Augustinus Fabrikker, Heartcore Capital, Saban Ventures, Headline, and Possible Ventures, matching Aldea Ventures in some reports. This followed prior raises totaling around $40 million, including a Series A in early 2021 and a €11.2 million extension in February 2021. The funds were earmarked for accelerating investments in premium original content, market expansion, product scaling, and tech enhancements to capture growth in the projected $50 billion podcast and audio market. Traction included 5x year-on-year growth noted around the raise, doubling exclusive show output week-on-week in 2021, and strong market validation like Podimo Deutschland ranking in Apple's top 10 non-US podcast subscriptions. Investors highlighted Podimo's proven model across multiple markets, creator revenue sharing edge, and potential in non-English markets where over 90-93% of listening occurs in native languages.
Feb 2021Series AChr. Augustinus Fabrikker (lead); Headline (lead); Aldea Ventures$14MPodimo is a Copenhagen-founded subscription service for podcasts and short-form audio stories. The company raised €11.2 million in a funding round on February 19, 2021, led by Chr. Augustinus investment fund, with participation from existing investors including Aldea Opportunity Fund. This followed a €15 million Series A announced eight months earlier. Podimo aims to address discoverability and monetization challenges in the podcast industry by matching listeners to content and providing revenue streams for creators. At the time, more than 50% of growth came from international markets, with an exclusive catalogue of over 600 productions.
May 2020Series A83North (lead); Possible Ventures; Heartcore Capital; Headline$17MPodimo is a Copenhagen-based podcast and short-form audio platform offering personalized recommendations, original content, and a subscription model with revenue sharing for creators. The company raised €15 million ($16.5M) in a round on approximately May 28, 2020, led by 83North, with participation from Heartcore Capital and e.ventures, following a €6 million seed round in 2019. Funds were allocated to enhance platform curation and discovery, develop original content, build creator analytics, and expand the team. At the time, Podimo operated in Denmark and Germany, targeting the growing European podcast market where over 20% of people listen weekly.
Jul 2019SeedHeadline (lead); Heartcore Capital (lead); Stefan Blom$7M-

Who has invested in Podimo?

11 investors have backed Podimo across its funding rounds, including Headline, Heartcore Capital, Chr. Augustinus Fabrikker, 83North, Highland Europe and Possible Ventures.

Lead investors include 83North, Highland Europe, Saban Ventures, Chr. Augustinus Fabrikker, Headline and 1 other investor.


Podimo Investors

Investors in Podimo by funding rounds participated
InvestorHQRoundsRoleFirst check
HeadlineUnited StatesSan Francisco, CA5LeadJul 2019
Chr. Augustinus FabrikkerDenmarkCopenhagen4LeadFeb 2021
Heartcore CapitalDenmarkCopenhagen4LeadJul 2019
83NorthUnited KingdomUnited Kingdom3LeadMay 2020
Possible VenturesGermanyMunich2ParticipantMay 2020
Highland EuropeUnited KingdomLondon2LeadNov 2021
Saban VenturesUnited StatesLos Angeles, CA2LeadNov 2021
Aldea VenturesSpainBarcelona2ParticipantFeb 2021
Stefan BlomUnited StatesNew York City, NY1ParticipantJul 2019

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Acquisitions by Podimo

Podimo has acquired 2 companies to date.

Last acquisition by Podimo was on October 3rd 2024. Podimo acquired Podads for undisclosed valuation.


Latest Acquisitions by Podimo

Podads
Tonny Media
Description
-
Tonny Media is an Amsterdam-based production studio specializing in podcasts, video content, advertisements, and media strategies for Dutch brands. It creates series for clients in finance and lifestyle sectors, distributed on Spotify and YouTube. The company operates from a studio in the city center and handles full-cycle production from scripting to post-production.
HQ CountryDenmarkNetherlands
HQ City
-
Amsterdam
Deal Date3 Oct 202423 Aug 2024
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Podimo Competitors

Podimo competitors include listed companies like Saregama India and Netflix, and private ones like Create Music Group, Kakao Entertainment, Spotter and Epidemic Sound.

Public and private companies comparable to Podimo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Create Music GroupUnited StatesLos Angeles, CAPrivate--$2.2B-
Kakao EntertainmentSouth KoreaSeongnamPrivate$1.2B-$7B5.8x
Saregama IndiaIndiaIndiaPublicly listed$100M$36M$979M8.6x
SpotterUnited StatesLos Angeles, CAPrivate--$2B-
Epidemic SoundSwedenStockholmPrivate$85M-$1.4B16.5x
NetflixUnited StatesUnited StatesPublicly listed$45B$30B$314B6.4x

Podimo Public Comps

Podimo is still privately-owned, but its public comps include Alphabet, Amazon, Netflix, Disney, Spotify, Comcast, NetEase, Warner Bros. Discovery, Live Nation and Universal Music.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Alphabet$403B$176B10.2x8.7x23.3x19.0x
Amazon$717B$161B3.9x3.5x17.5x13.8x
Netflix$45B$30B7.1x6.4x10.6x19.8x
Disney$94B$19B2.4x2.3x12.3x10.3x
Spotify$20B$2.4B5.0x4.5x40.5x29.9x
Comcast$124B$46B1.3x1.4x3.5x4.8x
NetEase$17B$5.8B3.1x3.0x8.9x7.7x
Warner Bros. Discovery$37B$21B2.7x2.8x4.8x12.0x

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Common questions about Podimo

When was Podimo founded?Podimo was founded in 2019.
Where is Podimo headquartered?Podimo is headquartered in Copenhagen, Denmark.
Is Podimo publicly listed?No, Podimo is a private, VC-backed company.
How much funding has Podimo raised?Podimo has raised $221M across 6 funding rounds.
What was Podimo's last funding round?Podimo's last funding round was a $49M undisclosed-stage round in December 2023.
Who are Podimo's investors?Podimo's investors include Headline, Chr. Augustinus Fabrikker, Heartcore Capital, 83North, Possible Ventures, Highland Europe, Saban Ventures, Aldea Ventures, Stefan Blom, Highland Capital Partners and 1 other.
Which companies are comparable to Podimo?Companies comparable to Podimo include Create Music Group, Kakao Entertainment, Saregama India, Spotter, Epidemic Sound and Netflix.
How many companies has Podimo acquired?Podimo has acquired 2 companies, including Podads and Tonny Media.

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