Dubai, UAE, Sept. 30, 2024 (GLOBE NEWSWIRE) -- There are over 500 million podcast listeners worldwide today* and the global podcasting market is expected to grow 9x from $27B in 2023 to over $234B by 2030**. With listeners completing circa 80% of any given podcast episode it’s unsurprising that worldwide ad spending is expected to reach $4.02 billion in 2024. Amid this explosive growth, discoverability is the greatest hurdle for podcasters.
Today, the world’s largest podcast distribution platform Podeo is announcing a $5.4M funding round to support podcasters overcome the discoverability challenge. The Series A funding round was led by Oraseya Capital (the VC arm of Dubai Integrated Economic Zones Authority) with participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital.
Podeo founders: (L to R) Mario Hayek, Stefano Fallaha and Anthony Essaye.
Podeo offers an all-in-one platform for podcasters, streamlining everything from content creation and distribution to monetization. At a time when audio discoverability is an ever-growing challenge, Podeo’s exclusive distribution integrations transcend traditional streaming apps, unlocking unprecedented exposure across radio stations, airlines, ride-hailing services, gaming, and chat apps. With a thriving community of 100,000+ creators and a global audience of over 50 million listeners, Podeo is shattering reach barriers and empowering independent voices to be heard like never before.
Podeo's distribution network goes beyond podcatchers to exclusive channels through apps, airlines, radios and taxis
Founded by Stefano Fallaha, Anthony Essaye, and Mario Hayek in 2020, Podeo began as a podcast app with exclusive content but quickly evolved into a groundbreaking end-to-end platform. Shifting from a destination-first to a distribution-first model, Podeo is redefining how podcasts are delivered and monetized. The visionary founders, who previously launched the timed-podcast aggregator Fallound, backed by the entity responsible for the 2022 FIFA World Cup, now lead a dynamic team of 35+ experts across audio, big data, and media.
Podeo equips creators with state-of-the-art tools to grow and engage unique audiences while enabling brands to optimize their ad spend and unlock unrivaled opportunities for budget efficiency across channels powered by Podeo’s ad-tech.
“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 monetization 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 revolutionize 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”.
Ends
Notes to the editor
* Backlinko, Podcast Statistics You Need To Know
** Market.US, Global Podcasting Market
Media images can be found here
About Podeo
Podeo is the heartbeat of podcasting in the Middle East & North Africa, dedicated to unlocking the power of the human voice and amplifying audio content to billions. Through its proprietary, end-to-end products for creators, listeners, and advertisers, Podeo’s AI-powered infrastructure supports over 100,000 creators, enabling them to reach tens of millions of listeners worldwide. With seamless distribution and monetization tools, Podeo enables podcasts to tap into new audiences, build vibrant communities, and connect with brands on a global scale.
For more information please visit https://podeo.co/
About Oraseya Capital
Oraseya Capital is the $136m VC fund of DIEZ (Dubai Integrated Economic Zones Authority), committed to driving innovation by investing in high-potential startups with a nexus to the United Arab Emirates, across a range of sectors and stages (from pre-Seed to Series-B).
For more information, please visit: https://www.oraseyacapital.com
