ART19, a San Francisco, CA-based podcast technology company, closed a $7.5m Series A funding.
The round was led by Bertelsmann Digital Media Investments (BDMI) and DCM Ventures with participation from United Talent Agency, Gallo Digital, Zach Coelius and Array Ventures.
The company intends to use the funds to accelerate product development and (soon) expand into foreign markets.
Led by Sean Carr, Founder and CEO, ART19 provides a podcast hosting platform features, such as its proprietary WarpFeed® technology for dynamic ad insertion, to allow publishers to increase revenues as well.
The company, which has experienced exponential download growth since it launched into beta two years ago, is expecting revenue to grow by 300 percent in 2017. Customers include publishers like Midroll Media, DGital Media, Wondery, VOX Media, iHeartMedia, Feral Audio, reVolver and The New York Times.