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Female focused podcast network Dear Media has raised $8 million in funding from Magnet Companies. The funding will be used to grow Dear Media’s slate of podcasts and to fund original IP.
Magnet Companies is a private equity-backed holding company. It was founded in 2018 by Betsy Morgan, Brett Bouttier, and Jeff Berman.
Dear Media’s network was formed in 2018 as a joint venture between CEO and co-founder Michael Bosstick and Raina Penchansky of Digital Brand Architects, a management company.
“This medium has been in need of an update for a long time. Not only in the voices that are represented, but in the way those voices are able to engage in this space,” said Bosstick. “We could not be more excited to partner with Magnet to fuel the rapid growth of this network to bring even more female perspectives to our growing audience. Before Dear Media was established these voices had been underrepresented and underutilized. We view our talent and shows as not only podcast channels but brands within themselves. This investment will help us meet the strong demand we’ve seen from audiences for our programming to develop new business models that we believe are the future of audio and commerce. Dear Media was built to do just that. To break barriers and change the current landscape."
Check out Dear Media HERE