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Acast secures $19.5 million investment for on-demand audio growth

Acast, a podcasting and audio on-demand company, announced that it has secured $19.5 million in a series B investment. The round, led by a group of Swedish investors, brings Acast’s fundraising total to more than $32 million. The latest financing will support expanding Acast’s engineering team and developing its audio on demand technology. The company will also put some funds toward faster growth in the U.S. and expanding into new international markets.

Acast has more than 2,000 content creators on its platform. The company has relationships with notable media outlets such as The Financial Times, VICE, and The Economist.

“Sweden is home to many of the world’s top streaming services, and Acast is no exception,” said Co-founder and CEO Mans Ulvestam. “The Scandinavian culture of early adoption coupled with an incredible network of sophisticated investors that see the value in new services and in pushing boundaries made it an easy choice to build and grow out business here. This new financing round from Robur and Norron will allow us to bring our visiion of the future of audio to life.”

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Anna Washenko

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