AP1 leads SEK 300m round for Acast

AP1 is joined by Swedbank Robur funds Ny Teknik and Fokus Fund, which also invested in the series-B round.

The fresh capital will be used to accelerate the company's growth, specifically in the US, which is the company's fastest growing market.

In 2018, Acast grew to 3,300 hosted shows, an increase of 93% over 2017. It now reports more than 125 million listens per month.

Previous funding
Acast has now raised more than $67m, including the most recent round. Past investors include Bonnier Growth Media, Moor, Alfvén & Didrikson, CNI Network, Norron Asset Management's funds Target and Select, and Inbox Capital.

Company
Founded in 2013, Acast develops an online platform for podcasts. The company is based in Stockholm, Sweden. It works with podcasts globally including My Dad Wrote a Porno, The Adam Buxton Podcast, Värvet, Ask A Clean Person and The Football Ramble, as well as those of publishers such as the Times, the Economist, the Guardian, Vice and Vogue. It employs 100 people.

People
Acast – Ross Adams (CEO).

Advisers
Company – ABG Sundal Collier (corporate finance); Carnegie (corporate finance).

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• Topics
• Expansion
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• AP funds