Shareable podcast specialist Anchor lands $10M in funding
Anchor, the New York-based tech startup on a mission to make life easy for anyone who wants to record and share audio, has raised US$10 million in a Series A round of funding led by Google’s venture capital arm, GV.
The latest cash injection should enable the company to upscale its bespoke platform which allows podcasters to easily build and distribute audio content from their mobile devices.
Additional investors in the latest funding round include include Atlantic Records’ CEO Craig Kallman; Accel; Eniac Ventures; Betaworks; the Chernin Group; Homebrew; and author, entrepreneur, and podcaster Nir Eyal, bringing to about $15 million to total amount raised.
“We built the product to be the easiest way to create, share, and interact with audio,” said Anchor CEO and co-founder Michael Mignano. “We’re seeing more and more regular people want to jump in and start creating audio.”
Launched in 2015, Anchor provides podcast hosting and has the rights to music tracks through partnerships with Apple Music and Spotify, notes Techcrunch. Its tech allows users to publish their shows to Apple Podcasts, Google Play Music and elsewhere.
“Thanks to smartphones,” the company notes, “digital audio, not surprisingly, is exploding, with 61 percent of Americans now listening to digital radio monthly and 24 percent of Americans now listening to podcasts monthly.”
This article originally appeared on The Industry Observer, which is now part of The Music Network.