With the new investment, the platform will look to further expand its reach in an Arab world that is welcoming the concept of the podcast more and more.
Podeo, a podcast platform based in Lebanon, has raised an undisclosed amount in a Seed investment round by UK-based venture capital and investment management firm, Razor Capital. Also including t participation from Globivest VC, and strategic investors holding senior positions in a range of media and tech companies, the investment will be used to broaden the platform's reach among their Arabic audiences.
“The funds will be deployed to strengthen Podeo’s leading position in the Arab podcast industry, and double down on the growth already achieved,” said founder and CEO of Podeo, Stefano Fallaha.
Despite the limitations of the pandemic and a tough 2020 for all, Podeo was able to achieve a 700% growth in listens in the second quarter of the year. It’s this growth in the face of adversity that attracted Razor Capital, which also has a presence in Beirut and Dakha.
“What instantly caught our attention was the team’s ability to place Podeo in a prime position to move the audio industry forward with new technologies and a clear content strategy,” said Ramzi Farah, Managing Partner of Razor Capital. “We are excited to work alongside Stefano and the team as they continue to promote podcasts throughout the Arab world.”
Learn more about Podeo here.