Since launching in 2016, Wondery has captured the attention of headphoned commuters across the U.S. with its podcasts. Now, it wants to take over — cue dramatic music — the world.
OK, maybe it’s not that dramatic, but Wondery has become one of the largest and fastest-growing independent podcast publishers in the game, according to Podtrac’s rankings. With more people than ever before listening to podcasts in the U.S., the publishing company has drawn the attention of investors as it looks to expand its reach.
Consumers all over the world are flocking to podcasts.”
Today, the company announced that it has raised $10 million in a Series B round led by Waverly Capital. The round will be used to develop more titles, fuel content acquisition and expand its global reach. Former National Geographic Partners CEO Declan Moore also joined Wondery’s team to head its global efforts.
The combination of Waverly Capital and Moore served as a win-win for the company, said Hernan Lopez, founder and CEO of Wondery, in a statement.
“Consumers all over the world are flocking to podcasts, yet they can’t find enough of the high-quality, immersive series the Wondery brand is known for,” Lopez said. “We’re beyond excited to partner with Waverley and our existing investors in our next phase, and thrilled to welcome my former colleague Declan Moore to our executive team.”
Based in LA, Wondery has made a name for itself producing 17 different podcasts that have reached number one on the Apple Podcasts charts. The company has independently produced more than 20 titles and hosts dozens more, including hits like Dr. Death, Business Wars and Dirty John, which was developed into a TV series on Bravo and Netflix.
The company emphasizes emotionally immersive shows and explores everything from the deception of a lover to medical malpractice and the power plays of leading businessmen to drunken Dungeons and Dragons exploits.
Moore will be tasked with bringing those podcasts to listeners around the globe, according to the company.
Nationwide, podcasts have become a hit sensation and are predicted to reach $1 billion in ad revenue by 2021, according to research by IAB and PwC. Wondery is the latest podcast company to draw the attention of investors this year. So far, investors have poured in more than $250 million to support audio storytelling.
Series A investors Lerer Hippeau, Greycroft, BDMI, Advancit, Water Tower Ventures and Powerhouse Ventures also participated in the latest round.
