Acast raises SEK 30M from MOOR and Bonnier, looks for a bigger round in 2017.
Acast, a Stockholm, Sweden-based podcasting company raised SEK 30M ($3.4M) in a new round of financing, The money comes from existing investors, namely MOOR, Bonnier, Alfvén & Didrikson and Inbox Capital and the transaction was valued at about SEK 300M ($35M).
Acast, founded in 2013 by President Karl Rosander, has developed a platform for podcasting services. The company makes money from advertising, subscriptions and affiliate commissions and has offices in London, New York and Los Angeles, in addition to the Stockholm-based headquarter.
Prior to this investment, Acast received about $12.5M in external funding.