Acast Investment

Podcast platform Acast has announced the close of a Series A funding round, with a USD 5 million investment from new investor Bonnier Growth Media and existing investor MOOR Capital. Acast is a full-service platform that allows users to discover and share on-demand audio content enhanced with videos, images and links, with bases in Stockholm and London. The funding will be used to expand in Europe and the U.S.

Acast was launched in Sweden in April 2014 by tech entrepreneurs Måns Ulvestam and Karl Rosander, with a U.K. roll-out in late 2014. Since then, it has grown to 1 million unique users with 12 million streams per month and hosts 50 percent of U.K. commercial broadcasts.

“Bonnier has consistently remained at the forefront of innovation, in sync with the needs of both consumers and advertisers, and our support for Acast, a concept at the forefront of the revolution in podcasts, is a reflection of this,” says Ulrika Saxon, CEO of Bonnier Growth Media.