Podcast network Gimlet Media scores $15 million in funding

Aug 2, 2017 at 12:00am

Gimlet Media, the Brooklyn-based podcasting network behind shows like StartUp and Reply All, announced today that it has closed a $15 million round led by Stripes Group. The series B includes existing investors Cross Culture Ventures and Betaworks, along with newcomer, Emerson Collective.

Recode, which reported the story overnight, notes that the funding runs counter to the common wisdom that VCs hate investing in podcasting. Gimlet cofounder and CEO Alex Blumberg believes the hesitancy is a symptom of an ongoing disconnect. “There’s a classic situation of media companies and technology-based VCs being something of a mismatch,” he tells TechCrunch. “Podcasting is just a continuation of that pattern.”

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