Wondery lands $10 million fundraising round

Wondery has raised $10 million. The latest round brings the podcast network’s valuation to more than $100 million, sources told the Wall Street Journal. Wondery will use the money to expand its programming, with a focus on taking its shows international and releasing podcasts in multiple languages. It has hired Declan Moore, former CEO of National Geographic Partners, to head its global push.

The series B round was led by new investor Waverley Capital. Existing investors Lerer Hippeau, Greycroft, BDMI, Advancit Capital, and Water Tower Ventures also participated, along with new investor Powerhouse Ventures.

WSJ’s sources said that Wondery generated $10 million in 2018 revenue and is targeting $25 million this year. They noted that the company turned a profit in the fourth quarter of 2018.

“Podcasts are growing faster than anybody expected both from total listening as well as total advertising revenue,” Wondery CEO Hernan Lopez said.