RedCircle, a podcast platform for independent creators, has raised $6 million in Series A funding round co-led by EPIC Ventures and Refinery Ventures. 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, also participated in the funding round.
“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.”
RedCircle helps independent podcasts monetize through the RedCircle Advertising Platform (RAP). RAP enables brands to purchase host-read ads or programmatic, pre-recorded advertising across a large number of podcasts through a fully automated platform. With tools for demographic targeting, advertising attribution, and brand safety, RAP allows brands and their agencies to establish a foothold in podcast marketing or scale their existing spend, the statement said.
With this new Series A funding, RedCircle plans to expand its team and enhance its offerings so that more podcasters can earn what they deserve, it added.
“We’ve seen how software tools can empower independents against incumbents, like with Shopify and Amazon,” says Nick Efstratis, managing partner of EPIC Ventures, one of the investment round’s leads. “Considering the strength of the RedCircle team and their traction thus far, I’m confident that they can stand up to the big names in podcasting and ensure that podcasting revenue and resources become accessible to all.”
Founded in 2018 by Mike Kadin and Jeremy Lermitte, RedCircle helps podcasters with distribution, growth, and monetization, and its advertising platform helps brands purchase advertising efficiently, guaranteeing high ROI.
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