HowStuffWorks raises $15 million to grow podcast presence

Podcast company HowStuffWorks has raised $15 million in series A funding. The Raine Group, the financial institution that recently backed SoundCloud, led the round. The financing will see HowStuffWorks spinning out from its parent company System1 to become a private operation. Also, former general manager Conal Byrne will return to the company as its president.

During the next year, HowStuffWorks will continue investing in podcasts and bringing in new talent. It expects to expand offerings in history, science, lifestyle, and comedy, as well as exploring new verticals.

“We’re seeing an inflection point in podcasting as accelerating consumer adoption and performance for advertisers continues to drive the industry’s overall market potential,” said Pete Amaro, The Raine Group’s vice president. “Podcasting has finally proven itself as a viable space for investment, and we feel that HowStuffWorks’ expertise in creating authentic audio content will prove to be a solid foundation to drive future growth. We’re excited about this strategic investment and are confident that HowStuffWorks will continue to be the top destination for podcasting.”

Anna Washenko