Germany-based podcaster’s advertising service Julep has raised €2m ($2.3m) from investors including media company Rheinische Post Mediengruppe, W&V has reported.
The Müller Medien family, individual investors Andreas Mayer, Marcus Prosch and Andreas Wiele, and the Julep management team have also chipped into the round.
Founded in October 2019, Julep operates an e-commerce portal where companies can promote services and products through podcasts as well as audio-based content on social media platforms such as Facebook and Instagram.
The company targets publishers and media companies, and represents more than 180 podcasters who produce a total of more than 9 million marketable streams per month.
The funding will go toward expanding Julep’s sales team and improving its content and technology, including further automation of the platform and adding features for better marketing.
The Julep management team, its founders and various angel investors had provided a seven-figure euro amount (€1m = $1.1m at contemporary rates) for the startup in a March 2020 seed round.
