Podcast distribution platform Podeo has raised $5.4 million in Series A funding to address discoverability challenges in the growing podcasting market. 

Oraseya Capital is leading the round, which also includes participation from Ibtikar Fund, Cedar Mundi Ventures, Samarium, iSME, and returning investor Razor Capital.

According to figures cited by Podeo, the global podcasting market, currently valued at $27 billion, is projected to reach $234 billion by 2030. With over 500 million podcast listeners worldwide and ad spending expected to hit $4.02 billion in 2024, the company aims to capitalize on this growth while tackling the industry’s primary hurdle: discoverability.

Podeo’s platform offers podcasters tools for content creation, distribution, and monetization. The company reports a community of over 100,000 creators and an audience exceeding 50 million listeners. Its distribution model extends beyond traditional streaming apps, integrating with radio stations, airlines, ride-hailing services, gaming, and chat applications.

Founded in 2020 by Stefano Fallaha, Anthony Essaye, and Mario Hayek, Podeo has transformed from a podcast app with exclusive content to an end-to-end platform. The company employs over 35 audio, big data, and media professionals.

“This Series A funding will allow us to amplify our mission and scale our ecosystem at lightning speed across emerging global markets, making storytelling limitless and giving diverse voices the power to be heard by billions worldwide,” said Fallaha, Podeo founder and CEO, in a press release.

Podeo claims to boost creators’ monthly audience growth by an average of 166% after migration to its platform. The company has expanded the podcast supply in the MENA region by 50 times in two years, growing from a base of 2,000 podcasters. This expansion has reportedly led to a six-fold increase in revenue over the past year.

“[Podeo’s] capacity to solve discoverability challenges is reshaping how creators and advertisers engage with audiences, and we are particularly confident in their ability to scale this successful blueprint across new markets,” stated Julien Plouzeau, Senior Partner at Oraseya Capital.

The platform’s integrations include partnerships with Dubai Taxis, Anuvu’s airline customers, messaging app imo, and Arabic media company Rotana.

Podeo plans to use the new funding to accelerate global expansion, enhance its AI capabilities, and develop new tools for the podcast value chain.