Podchaser, the AI-powered podcast directory, has scored $4 million in new funding that the company says will help it continue to build out its “IMDb for podcasts” and build tools for podcasters, ad agencies and brands. “Our goal is to convert the firehose of podcast data into a drinking fountain of insights that power discovery and decision-making throughout the industry," said CEO Bradley Davis.
The latest funding round was led by Greycroft, with additional investors including Advancit Capital, LightShed Ventures, Powerhouse Capital, High Alpha Capital, Hyde Park Venture Partners, and Poplar Ventures. There were also so-called angel investors who ponied up their own money, including TrendKite founder and President A.J. Bruno, Ad Results Media CEO Marshall Williams, and Shamrock Capital partner Mike LaSalle.
"Even in the face of a pandemic, the podcast market continues to grow at a breakneck pace. The demand from consumers and brands is insatiable," said Alan Patricof, co-founder and Chairman of Greycroft. "Podchaser’s data and discovery tools are crucial to taking podcasting to new heights,” he said.
The investment is more than twice the $1.65 million in seed funding that Podchaser secured last January, including from several of the latest investors. It means Podchaser has now raised more than $6 million since it launched in 2016.