Venture Capitalists Invest $5.5 Million in Podcasting Company
PodTech.Network, a podcast content provider, announced today that it has received $5.5 million in Series A funding from Venrock Associates, US Venture Partners (USVP), and Silicon Valley angel investors.
PodTech podcasts InfoTalk, a podcast that features interviews with experts in the area of information technology.
“With this financing we are now poised to deliver on our content development goals and to play a big role in the evolving ecosystem of this new media,†said PodTech founder John Furrier.
In the past few months PodTech has expanded the InfoTalk model to include a new set of podcast media offerings. With this financing announcement, PodTech is launching the following media properties:
* PodTech News: Dedicated independent podcasting news team
* PodTech InfoTalk Network: Dedicated set of PodTech original and 3rd party podcasting content
* PodTech Sponsorship Network: Aggregated set of sponsors and paid content
“Traditional ways of reaching customers with television and radio are costing more and more money and becoming less and less valuable because their audience is declining,†said Paul Matteucci, Partner at US Venture Partners. “The opportunity to get rid of the middleman and deal directly with customers and prospects is very attractive and PodTech can do that through the net and podcasting,†he added.
Sources: PodTech, Podcasting News, Global Advanced Media Blog