Interactive podcast startup Entale has received £2m in funding from the owner of the Daily Mail to help expand its AI technology.
Entale, which was founded in 2017 by former Conde Nast digital boss Wil Harris, enables audiences to view social media posts, images and product links while listening to podcasts.
The London-based company said it has secured the backing from DMG Ventures, the venture capital arm of Daily Mail and General Trust.
Entale already has partnerships with a number of major publishers, including Universal Music, Conde Nast and DMG Media.
Laudable, an audio news project launched with local publishers Reach and JPI Media, secured €500,000 (£433,000) in funding from Google earlier this year.
Entale said its latest backing will enable the firm to develop its publisher platform and AI technology, as well as supporting a slate of original shows.
“We are delighted to receive backing from DMG ventures, who will provide us with valuable media and consumer brand-building experience to help us scale,” said boss Harris.
“With this new investment, we will be able to further develop our unique technology and supercharge our growth at a time when podcast consumption is rapidly increasing, and advertisers and consumers alike are looking to spend more of their budgets on audio channels.”
The investment comes amid a boom in the podcast market, as brands look to cash in on growing listener numbers and engaged audiences.
But Entale faces fierce competition from rival platforms such as Acast and Audioboom, as well as tech giants such as Apple and Spotify, which have refocused their efforts on podcasting in recent months.
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