Acast is a Swedish-founded company that provides hosting, monetization and growth support for podcasts, and podcast advertising solutions for brands and media agencies. Launching in 2014,[2] it developed a dynamic insertion technology which can target advertising within podcasts based on location, time, and personal data.[3] The company champions an independent and open ecosystem for podcasting, where podcasts hosted with Acast are available on all podcast listening apps.[4] Acast was founded by Karl Rosander [sv] and Måns Ulvestam in 2014;[5][6] together with Johan Billgren as co-founder.[7]
Acast hosts over 88,000 podcasts, with over 430 million listens every month. The company operates worldwide with a physical presence in 15 countries, and has its headquarters in Stockholm.[8]
In addition to the founders, Bonnier has also invested in the company.[9] In 2018, additional investors had stepped in with more than $67 million. In 2019, the European Investment Bank invested 25 million euros in Acast,[10] and on June 17, 2021, Acast was listed on the Nasdaq First North Premier Market at a valuation of approximately SEK 7 billion.[11]
In 2014, four months after launch, Acast was named Start-up of the Year by IDG magazine, Internetworld,[16] and ‘Most innovative media service’ at mobile industry awards Mobilgalan [sv].[17]
In May 2015, Acast closed a $5m Series A funding round, led by Bonnier Growth Media. This was supplemented by an undisclosed follow-on investment from early-stage venture capital firm MOOR, owned by Kaj Hed, majority owner of Rovio Entertainment.[12][18]
In 2016, Acast launched a paid subscription service called Acast+.[19]
In December 2018 the company raised $35 million from AP1 and Swedbank Robur (sv) funds Ny Teknik and Microcap in Series C funding. This has brought total funding to more than $67 million.[20] In 2019, Acast acquired Pippa, another podcast hosting platform.[21]
Since 2019, Acast has offered a free hosting tier for podcasts.[22] The European Investment Bank invested €25 million in Acast in 2019.[23]
In early 2021, Acast announced the acquisition of RadioPublic, a Boston-based startup founded by the public radio organization PRX.[24][25]
In April 2021, rumours about an IPO on NasdaqStockholm surfaced.[26] Founders Rosander and Ulvestam sold their last shares earlier in 2021, to fund their new startup Sesamy [sv].[27] Queerstories joined the Acast Creator Network in May 2021.[28][29][30]
In March 2022, Acast announced that they would be discontinuing their podcast client app. The company cited its decreased importance as a source of user data and their preference for platform-independence in the decision.[31][32]
In July 2022, Acast signed an agreement to acquire Podchaser, a platform-agnostic podcast database with user reviews, for $27 million by August 2022.[33][34][35]
In August 2022, Acast was ranked #2 in Podtrac's ranking of ad sales networks for podcasts in the US.[36]
In November 2022, Acast entered into a partnership with Amazon. Through the agreement Amazon Music bought all advertising space for thousands of Acast's podcasts, allowing Amazon customers to listen to those shows ad-free.[37]
