Lake Effect Radio has committed to an additional round of investment in the Cleveland, OH-based podcast company. The $500,000 investment will be used for working capital.
“In these uncertain times, I’m certain that podcasting has a bigger future than ever,” noted Joan Andrews, Principal of Lake Effect Radio, “With this investment, I want not only to help this great company thrive but to keep millions of people all over the world enriched and entertained with this great programming.”
“This new investment round comes at a crucial time,” offered Michael DeAloia, CEO of Evergreen Podcasts. “In a period of economic uncertainty for most companies, Evergreen continues to see growth in its branded podcast and partner podcast lines of business. As companies are forced to move remote, more businesses are looking for alternate means of communication. Podcasting is positioned for enormous growth in this work-from-home economy.”
Evergreen has 34 podcasts including Rebel Force Radio, The Chad & Cheese Podcast, Burn the Boats, Riffs on Riffs, Pit Pass Moto, Professional Book Nerds, Banking Transformed, Your Teen, Up2, and Wake Up Call.