Podcast network Wondery Inc. has raised $10 million in a funding round that will help expand its slate of programming into daily podcasts and multiple languages.
Declan Moore, former CEO of National Geographic Partners, will lead Wondery’s international expansion.
The podcasting company is now valued at over $100 million, according to The Wall Street Journal, which first reported the news.
The series B financing round was led by new investor, Waverley Capital, as well as existing investors Lerer Hippeau, Greycroft, BDMI, Advancit Capital, Water Tower Ventures, and new investor Powerhouse Capital.
Wondery expects to draw $25 million in revenue this year, according to the WSJ.
The profitable company is behind the podcasts “Dr. Death,” “Dirty John” and “Business Wars.” It is one of the biggest podcast publishers in the U.S., with 66 shows, over 7 million unique listeners monthly in the U.S. and more than 40 million global downloads and streams, according to podcast measurement company Podtrac.
”Dr. Death” and “Gladiator: Aaron Hernandez and Football, Inc.” were the top podcast series in 2018.
The “Dirty John” podcast is being developed into a TV series for Bravo and Netflix. It has over 8 million downloads per episode.
Podcast advertising revenue in the U.S. grew 53% last year to $479.1 million, according to the Interactive Advertising Bureau.
It is expected to top $1 billion by 2021.