Podcast technology company ART19 announced on Wednesday (Aug. 23) that they have raised $7.5 million in Series A funding to advance the development of a new podcast technology.
The new round includes Bertelsmann Digital Media Investments, DCM Ventures, United Talent Agency, Gallo Digital, Zach Coleus, and Array Ventures will allow for ART19, the fastest growing provider of podcasting distribution, hosting, and ad serving technology, to move forward with a new venture.
The podcasting company that currently serves major customers like iHeartMedia, VOX Media, The New York Times, and more intends to eliminate targeted advertising, dead ad inventory, and improve data measurement.
“There are now more people listening to podcasts in the US than using Twitter,” said Sean Carr, Founder and CEO of ART19 said in a statement. “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
Jason Krikorian, General Partner at DCM Ventures and Co-Founder of Sling Media, said in a statement, “Audio has extraordinary global reach, and if there’s one thing we know about consumers, it’s that they want their content on-demand. This bodes well for the future of podcasting. ART19 has taken the space by storm and we’re thrilled to be working with them as the medium continues to mature here and abroad.”growth for our customers.”