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Techcrunch reports that Casted, a recent audio and video podcast product aimed at B2B marketers, has raised $7 million in Series A funding led by Revolution Ventures.
Founded in 2019 by Lindsay Tjepkema, Techcrunch says that “the startup quadrupled its revenue, tripled its customer base and doubled the size of its team” in 2020.
“If you’re a podcaster, and you’re doing it to grow a large audience, monetize and sell advertising, the number of downloads is important,” Tjepkema told TechCrunch. “But when you’re a B2B company or an enterprise company, the number of downloads doesn’t help. You need to know who’s engaged, how are people interacting with the content, and then how is that going to impact revenue and pipeline, and customer loyalty and lifetime value.”
Revolution believes that B2B content makes up approximately 15% of the podcasting content and Revolution Ventures Managing Partner David Golden thinks it could grow much larger.
“Given the growth on the consumer side, we think this could be up to a $20 billion market by five years from now,” Golden said.