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Podcast Platform RedCircle has raised $6 million in funding. RedCircle helps podcasters make money with its Advertising Platform called RAP, which enables brands to purchase host-read ads or programmatic, pre-recorded advertising across a large number of podcasts through an automated platform.
The funding comes from EPIC Ventures and Refinery Ventures, with participation from SignalFire, Bloomberg Beta, MathCapital, and angel investors including Justin Wohlstadter, founder of Wonder, George Strampolos, founder of Fullscreen, and Eckart Walther, contributor to the original RSS specification, among others.
“Our data show that 65% of the listening is happening outside the top shows that are owned by Big Media and Big Tech. And yet, most of the money in the ecosystem ends up going to those large publishers.” stated Mike Kadin, co-founder and CEO of RedCircle. “We built RedCircle to ensure that podcasters of all sizes can benefit from the industry’s growth. Simply put, we believe in democratizing access to podcast revenue.”