Podsights, an attribution platform for podcast advertising, has secured $4 million in funding. Newark Venture Partners led the round with participation from Graham Holdings, Aglaé Ventures, Greycroft, Supernode Global, BDMI and Betaworks.
Newark, NJ (March 23, 2021) – Podsights, the leader in podcast advertising attribution, today announced the close of a $4M oversubscribed Seed+ round, led by Newark Venture Partners with participation from Graham Holdings, Aglaé Ventures, and existing investors Greycroft, Supernode Global, BDMI, and Betaworks. In a growing audio market, Podsights aims to make it easier for marketers to validate and scale their podcast advertising.
“Traditionally, the podcasting tech industry has been focused on tools for publishers and oftentimes overlooks the tools that marketers need,” said Sean Creeley CEO of Podsights. “As the podcast market continues to explode, advertisers are increasingly looking at the space and trying to crack the code of what and when to buy. Podsights already answers the question ‘is my podcast advertising working’, and now we are setting our targets to help answer the question ‘how and where can I scale my podcast advertising?”
This round of funding will be used to expand the platform’s functionality, grow the team, and solidify Podsights’ leadership role in podcast advertising.
Podsights saw explosive growth in 2020, increasing 800% YoY as demand for podcast attribution skyrocketed. Podsights has worked with over 700 brands on thousands of campaigns, analyzed billions of impressions, and measured $128M in advertising spend from brands like HubSpot.
“Podsights has allowed us to scale our podcast advertising program confidently,” said Jillian Hope, senior marketing manager, advertising, at HubSpot. “Previously, we had very little data to help make decisions or prove ROI. Podsights’ attribution and reporting tools have been invaluable in helping us prove the effectiveness of audio advertising.”
Podsights expanded its product offering to meet demand, launching incremental lift, branded podcast measurement, and cross-campaign insights. Podsights measures campaigns on the top podcast networks like NPR, Entercom’s Cadence13 and Pineapple Street Studios, and the New York Times.
“National Public Media is the sponsorship sales representative for NPR. We offer podcast sponsorship opportunities that allow companies to obtain a unique combination of scale and high-quality content that allows marketers to reach a valuable, loyal audience. With the help of Podsights technology, sponsors are able to truly understand the effectiveness of their sponsorship campaigns, and we can pave the way for better performing campaigns,” said Bryan Moffett, COO, National Public Media.
“2021 is off to a great start,” said Andy Pellett, Co-Founder of Podsights. “Podsights will be using this investment to bring audience segments and contextual data points into campaigns to help marketers answer the question, ‘What podcasts should I buy?’”
Allison Williams, Principal at Newark Venture Partners said, “As the fastest growth category in advertising, Podcast advertising offers an engaged listener-base that has proven strong brand recall and conversion. Podcast advertising simply needs better tools for marketers to put real budget behind it, and we have no doubt that Podsights is the right product and team to do exactly this. They have proven the results with their attribution product — and they have a variety of other solutions to provide a full service offering to brands, publishers and agencies. We are very excited to be a part of the team.” Newark Venture Partners’ corporate founding partner is Audible, the leading creator and provider of premium audio storytelling.
Podsights is the leading attribution platform for podcast advertising. Built specifically for podcasting, Podsights connects podcast downloads to on-site and in-app activity, giving podcasters and advertisers unprecedented insights into the effectiveness of their campaigns in real-time. For more information visit: podsights.com