Audion, a French digital audio and podcast monetization solution provider, raised EUR 6 million (~USD 6.2 million) in a series A round led by Founders Future and Elevation Capital with participation from French business angels. This brings the total funding to EUR 7.1 million (~USD 7.3 million). 

Audion provides AdTech solutions to connect brands with audiences and content providers across European radio, music, and podcasts. It provides a programmatic buy-side ad platform (DSP) for advertisers to automate, customize, and measure audio advertising across all digital ad formats. It uses proprietary technology to dynamically generate thousands of audio combinations to create more engaging advertising experiences. The firm also provides an ad server platform for content monetization for podcasters which includes a text-to-speech technology to convert, monetize and distribute its content in audio.  The firm claims to have an audience of 150 million unique listeners from across 12 countries. More than 500 Brands and media agencies use its solutions including Adidas, Mercedes Benz, Coca-Cola, and Audi. 

The firm plans to use the funding to expand its activities in Europe over the next three years. In line with this, the firm plans to open offices in three new countries. At present, the firm has operations in UK and France.

The firm also stated that it had experienced a 100% growth in turnover in 2022.

Analyst QuickTake: Along with connected TV, audio-based mediums such as podcasting and audio streaming, are amongst the fastest-growing marketing channels which are reflected in the impressive growth recorded by Audion. This segment is also likely to attract investor interest as well as competition from ad marketplaces that look to enter this space. A case in point is VideoByte’s partnership with Katz Digital , an audio streaming, and podcasting platform to elevate its novel “audio to video” (A2V) ad-serving technology.