Mixcloud announced that it has closed its first-ever fundraising round. The audio platform received an investment of $11.5 million from holding company WndrCo, which specializes in businesses in media and technology. The money will go toward global scaling of the company, expanding the team, and diversifying the platform. Mixcloud’s current offerings include a range of serialized, long-form, and exclusive audio content.

“WndrCo is the ideal partner for Mixcloud. They are highly accomplished, and they are true operators with experience at some of the world’s leading media, entertainment and tech companies,” Mixcloud co-founder Nikhil Shah said. “We are excited that they share our long-term vision of what we are building, and to have them as a strategic partner for our next phase.”

“We at WndrCo couldn’t be more excited about coming together with the Mixcloud team and building on-top of the great foundation they already have in place,” said Anthony Saleh, a WndrCo partner who will join the Mixcloud board alongside Ann Daly. “We believe that the market opportunity, quality of the product, and the fantastic team make for a very special future for Mixcloud.”