Pembroke VCT has led a £2.5 million investment round in Auddy, a podcast business founded by former Virgin Executive and Virgin Radio International founder, Andrew Craissati.
Auddy’s investment, which totalled £1.8 million, was supported by existing investors Haatch Ventures and Brick Capital Ventures.
With over 4,000 podcast shows, 12 million monthly downloads and a historical 11 million downloads in the UK alone, Auddy’s podcasts include popular titles such as Science-ish, Inside the Tour and Smoke Screen.
The investment will help support Auddy to continue its organic growth and further invest in both technology and content. The market for podcasting is among the world’s fastest growing content-based industries, with over 23 million UK weekly listeners. Researchers consistently forecast over 25% yearly industry growth through to 2028 and beyond, courtesy of advances in content investment, a growth in listeners and time spent consuming podcasts.
