More than a quarter of Americans tune in to podcasts every month, but far fewer actually make them. Anchor is a startup that is hoping to bring change with its application that makes it simple to record and share content. Anchor likewise has a disclosure stage, which enables clients to discover sound crosswise over classes like news, games, music and tech.
The New York-based group is reporting $10 million in Series A financing, driven by GV (Google Ventures), bringing its aggregate raised to about $15 million. Accel, The Chernin Group, Eniac Ventures, Homebrew, Atlantic Records CEO Craig Kallman and others are taking an interest. “We built the product to be the easiest way to create, share and interact with audio,” said Anchor CEO and Co-founder Michael Mignano. “We’re seeing more and more regular people want to jump in and start creating audio.”
Anchor is not just a record button; it also takes allows users to make calls directly through the app, encouraging a podcast conversation with numerous people or organizations. It also empowers audience members to dial in and participate. Anchor additionally has the rights to music tracks through associations with Apple Music and Spotify. What’s more, it’s not quite recently the Anchor stage, everything can be posted on Apple podcasts, Google Play and gadgets like Alexa.
“Audio is having a moment,” said GV general partner M.G. Siegler about why he invested. “We’ve seen this with the rise of Amazon Echo, Google Home and Apple AirPods. Anchor is one of the companies in prime position to take advantage of all of this and move the audio space forward, in particular when it comes to interaction and production.” Brian O’Malley, partner at Accel, said that “the Anchor team is leveraging new technologies, like speech-to-text, to build a unique experience for people to collect thoughts and share them. We’re excited to deepen our relationship and continue to help them revolutionize this category.”
However, Anchor is as yet a while far from turning into a solid business. It has not generated revenue yet. Mignano says that Anchor is chipping away at an arrangement that would permit both the startup and its makers to profit from the content. So far, Anchor has essentially picked up clients through word of mouth since its commencement a year ago. The new subsidizing will enable it to additionally grow its group and get the word out.