This week, podcast directory startup Podchaser announced that they have secured $4 million in their latest round of funding.
The latest funding round was led by Greycroft, a venture capital firm with a portfolio of investments that include companies like Bumble, Goop, and Venmo.
The AI-powered tech company says they plan to use the money to continue building out a centralized, searchable podcast directory where users can find or discover podcasts. Their comprehensive podcast database is positioned to become the IMDb of podcasts.
As anyone in the podcast industry will tell you, a solid podcast directory is long overdue. This is likely due to the fact that the popularity of podcasting has been growing much faster in recent years than the technology we have available to structure and track the whole system.
Envision the way that IMDb catalogs movies and TV shows. Podchaser uses a similar format for cataloging podcasts. Each show has a page that lists episodes, guest credits, hosts, contributors, reviews, downloads, press, and more. Users can also follow, rate, or get new episode alerts directly from Podchaser.
And users are at the heart of Podchaser, because the podcast directory relies heavily on crowdsourced information to continue building out their comprehensive podcast database. In fact, Podchaser’s community of avid podcast listeners has tripled over the past year.
With their new funding, Podchaser also has plans to cultivate a community that they say will become a new class of podcast tastemakers. In addition to existing features like their user-generated podcast playlists, Podchaser plans to introduce a gamification and discussion system to nurture connections between podcasters and listeners.
“Even in the face of a pandemic, the podcast market continues to grow at a breakneck pace. The demand from consumers and brands is insatiable,” said Alan Patricof, Co-Founder and Chairman of Greycroft. “Podchaser’s data and discovery tools are crucial to taking podcasting to new heights.”