Podeo raises $5.4M for podcast discoverability and monetisation for global expansion
With over 500 million podcast listeners globally and the market projected to skyrocket from $27 billion in 2023 to over $234 billion by 2030, the podcasting industry is experiencing rapid growth. Given that approximately 80% of podcast episodes are completed by listeners, it is no surprise that global ad spending is forecasted to hit $4.02 billion by 2024.
However, despite this explosive rise, one major challenge remains for podcasters: discoverability.
To address this issue, podcast distribution platform Podeo has announced a $5.4 million Series A funding round. The round was led by Oraseya Capital, the venture capital arm of the Dubai Integrated Economic Zones Authority, and featured participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital.
Podeo offers an all-encompassing solution for podcasters, simplifying content creation, distribution, and monetisation. With discoverability becoming an increasingly pressing issue, Podeo’s unique distribution model goes beyond traditional streaming platforms. It expands podcasters’ reach by integrating their content across radio stations, airlines, ride-hailing apps, gaming platforms, and chat services. Now boasting a vibrant community of over 100,000 creators and a global audience exceeding 50 million listeners, Podeo is breaking new ground by offering podcasters an unprecedented opportunity to expand their reach and connect with a broader audience.
Founded in 2020 by Stefano Fallaha, Anthony Essaye, and Mario Hayek, Podeo started as a podcast app featuring exclusive content. It soon evolved into a comprehensive, end-to-end platform, shifting from a destination-first approach to a distribution-first model. This evolution has redefined how podcasts are delivered and monetised. The founders, who had previously launched the podcast aggregator Fallound, backed by the organisation behind the 2022 FIFA World Cup, now lead a team of more than 35 experts across audio, data, and media sectors.
Podeo empowers creators with tools to grow and engage with their audiences while providing brands with advanced ad-tech to optimise ad spend and maximise efficiency across various channels.
“We are committed to empowering creators to become the next generation of global audio stars, providing them with cutting-edge tools to captivate diverse audiences around the world,” said Stefano Fallaha, Founder and CEO of Podeo. “This Series A funding will allow us to amplify our mission and scale our ecosystem at lightning speed across emerging global markets, making storytelling limitless and giving diverse voices the power to be heard by billions worldwide.”
The podcast industry is at a pivotal turning moment, driven by the rise of independent voices and the ever-growing demand for authentic narratives. As audio becomes a driving force in media consumption, Podeo stands as the indispensable platform for creators to reach on-the-go audiences through its game-changing integrations with Dubai Taxis, Anuvu’s airline customers, messaging giant imo, and Arabic media conglomerate Rotana.
Positioned at the forefront of offline and on-demand experiences, Podeo has ignited a podcast revolution in MENA, expanding regional podcast supply by 50X in just two years. From a base of 2,000 podcasters, Podeo has transformed the industry, driving a six-fold revenue surge over the past year and enabling the region’s top publishers and advertisers to capture untapped audiences at scale.
Creators witness an average boost of 166% in monthly audience growth after migrating to Podeo, with an effortless redirection process. “Podeo is unmatched in elevating our podcast reach through its unique distribution network and monetisation tools,” said Mo Islam, host of Saudi Arabia’s premier English podcast, The Mo Show. “The platform is perfectly aligned with our ambitions and has already driven extraordinary podcast growth. Since switching to Podeo, we’ve evolved from just another number on a hosting platform to being part of a vibrant community of creators, supported by a state-of-the-art platform that continuously adapts to our needs and fuels our growth.”
With this investment, Podeo is poised to accelerate global expansion, supercharge its AI capabilities, and continue delivering industry-shaping tools that will revolutionise the podcast value chain. The company’s vision is clear: to become the world’s leading platform for content distribution, allowing content to be amplified across unique channels. Podeo envisions a future where radio and on-demand content transcend geographical boundaries, merging into a unified, thriving ecosystem with Podeo at the epicenter of this transformation.
“We're excited to support Podeo in the next phase of their growth”, said Julien Plouzeau, Senior Partner at Oraseya Capital. “Podeo’s unique distribution model and Stefano’s leadership and industry insight have propelled the company to the forefront of the podcasting industry in the MENA region. Their capacity to solve discoverability challenges is reshaping the way creators and advertisers engage with audiences, and we are particularly confident in their ability to scale this successful blueprint across new markets.”