Casted raises $ 7 million to develop its B2B podcast platform

Historically, podcasts have been aimed at consumers. The value to be gained in the B2B world is something that has been largely untapped.

For Lindsay Tjepkema – which has been anchored in the B2B marketing world for over 15 years – the opportunity was huge. Thus, in 2019, she founded Caste, an audio and video podcast product for B2B marketers.

And now, Casted has raised $ 7 million in Series A funding led by The companies of the revolution.

Existing backers High Alpha Capital, Elevate Ventures and Tappan Hill Ventures also participated in the funding, bringing the total raised of Indianapolis-based Casted to around $ 9.3 million since its inception.

2020 has been a good year for Casted. The startup quadrupled its revenue, tripled its customer base, and doubled the size of its team over the 12-month period. He has an impressive list of clients, including PayPal, HubSpot, Drift, and ZoomInfo. Casted’s platform is also “the recording system” for Salesforce’s 25+ podcasting shows.

And to make things even more impressive, that revenue growth looks more like 8 times year over year, according to Tjepkema.

She believes the company’s valuable accessory goes beyond just giving businesses a way to broadcast their podcasts. Her ability to analyze data and turn it into intelligence for sales and marketing is what really sets her apart, she said.

“If you’re a podcaster and you’re doing it to build large audiences, monetize, and sell advertising, the number of downloads is important,” Tjepkema told TechCrunch. “But when you’re a B2B business or a business, the number of downloads doesn’t help. You need to know who’s engaged, how people engage with the content, and how it’s going to affect revenue and the pipeline, as well as customer loyalty and lifelong value.

For starters, Casted’s SaaS platform gives marketing teams a way to publish content. Once published, Casted provides access to a “fully searchable content archive” with transcription and markup services. It also helps the company amplify that content through cross-channel distribution. And finally, largely by integrating with digital marketing platforms like HubSpot, WordPress, and Marketo, Casted’s software provides analytics on what a specific user is paying attention to. These data-driven analyzes become valuable insights for sales and marketing teams in terms of who to target and why.

“Because everything on the platform is transcribed, there are ways to chop it up and share it on other channels and put it back in the hands of your sales team so they can read it. ‘use it to further facilitate its conversations with its customers,’ Tjepkema mentioned.

Revolution Ventures Managing Partner David Golden said marketing technology was an area his company was difficult to invest in, given the number of companies providing a variety of services such as e-optimization. emails, sales automation and business intelligence.

“But what Lindsay and her team were building was clearly a new category in this space and the kind of slap on the forehead category. Of course, podcasting for B2B marketing really makes sense when you look at the evolution of tools available to corporate marketers, such as blogs, white papers and webinars, ”Golden told TechCrunch. “It was only a matter of time before audio and video became important parts of this toolkit, and there was no one there to do it.”

Revolution estimates that B2B content represents only about 15% of the podcasting content available today.

“Given the growth on the consumer side, we believe this market could reach $ 20 billion within five years,” Golden said.

The company, he added, is just one of many martech companies based in Indianapolis, including ExactTarget (which was acquired by Salesforce for $ 2.5 billion).

Going forward, Casted said the new capital will be used to expand its 25-person team and evolve the platform with new integrations and partnerships.

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