Casted raises $7M to scale its B2B podcast platform

Historically, podcasts are aimed at consumers. The value to be acquired in the B2B world has not yet been investigated.

Then, in 2019, he founded Casted, an audio and video podcast product aimed at B2B marketers.

And now Cast has raised $ 7 million in Series A funds led by Revolution Ventures.

Existing sponsors High Alpha Capital, Elevate Ventures and Tappan Hill Ventures also participated in the financing, bringing the Indianapolis-based Casted total to approximately $ 9.3 million from the start.

2020 was a good year for Casted. The startup quadrupled its sales, tripled its customer base, and doubled the size of its team within twelve months. The Casted platform is also the “registration system” for more than 25 Salesforce podcast programs.

And to make it even more impressive: according to Tjepkema, revenue growth looks more than 8 times on an annual basis.

He believes that the company’s value goes beyond just providing companies with a way to advertise their podcasts. His ability to analyze data and turn it into sales and marketing information really sets him apart.

“If you’re a podcast and you’re doing it to grow a large audience, make money and sell ads, the number of downloads is important,” Tjepkema told TechCrunch. But if you are a business or B2B company, the number of downloads does not help. You need to know who is involved, how people are dealing with the content, and how it will affect revenue and the pipeline, customer loyalty, and the value of life. “

For starters, Casted’s SaaS platform offers marketing teams a way to publish content. Once published, Casted provides access to a “fully searchable content archive” of transcription and tagging services. Therefore, it also helps the company to expand the content, disseminating it in all channels. Finally, widely integrated with digital marketing platforms like HubSpot, WordPress, and Marketo, Cast software provides an analysis of what a specific user is paying attention to. These data-based analyzes become valuable insights for sales and marketing teams in terms of whom to contact and why.

“As everything is transcribed on the platform, there are ways to compile and share on other channels and put it in the hands of your sales team so that they can use it to make it even easier to talk to your customers,” he said. . Tjepkema said.

David Golden, the managing partner at Revolution VenFor for Lindsay Tjepkema, who has been rooted in the world of B2B marketing for more than 15 years, the opportunity was enormous.

tures, said that marketing technology is a difficult area to invest in for your company, given the number of companies that provide a variety of services, such as email optimization, sales automation, and intelligence of business.

But what Lindsay and his team were building was clearly a new category in this space and the type of category that was applauding on the forehead. Clearly, podcasting for B2B marketing makes sense in the world when you consider the evolution of tools available to marketers, such as blogs, white papers, and webinars,

Revolution estimates that B2B content represents only about 15% of the podcast’s current content.

“Given the growth on the consumer side, we believe that this market could reach the US $ 20 billion in five years,” said Golden.

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