Castos Picks Up $756K in Funding from Automattic and Joost de Valk to Expand Services in the Private Podcasting Market
Castos, a WordPress-powered podcast hosting provider, announced a $756K pre-seed fundraising round today from Automattic, Joost de Valk, founder of Yoast SEO, and other individuals. The company raised money from all the investors in this round via a SAFE note, which founder and CEO Craig Hewitt said is a fairly standard investment vehicle for companies at Castos’ stage of growth. “On both the individual and corporate investor side I think the investors see the vision that we have for what the Private Podcasting market can mean for Castos and want to help us achieve that potential,” Hewitt said. Private Podcasting is a growing trend where creators and organizations broadcast to supporters in a more intimate format that isn’t open to the public. Hewitt likens them to membership sites, except in audio format. It is often used by people who are running membership sites, courses, or online communities as a way to stay connected with members. “The other application is companies wanting a way to connect with their employees in audio format,” Hewitt said. “Podcasting is perfect for that because it’s mobile-first, on-demand, and can be consumed asynchronously. We call it the Step Away Experience. Companies that are adopting Private Podcasting internally are…
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