Audio Up Inc. has raised $8.6 million in its most recent funding round, according to an SEC filing from the company.
The Brentwood-based podcast content production studio reported to the SEC on Dec. 20 that it had raised $8.6 million from its $25 million offering. According to an article from Variety — later republished on Audio Up’s website — the latest funding brings the company’s pre-money valuation to $150 million.
The company has raised $20 million to date. Audio Up was founded in 2020 by Jared Gutstadt, who won Adweek’s 2020 Podcast Innovator and Producer of the Year. Audio Up’s production studio has generated a robust slate of podcasts and original scripted audio entertainment, featuring prominent figures including Machine Gun Kelly, Miranda Lambert, Anthony Andersen, Jason Alexander, Stephen King and James Ellroy. The company’s investors include The Weeknd, Wassim “Sal” Slaiby, Larry Rudolph, Entertainment One Chief Executive Darren Throop, producer Will Ward and Howard Draft, as well as media companies SiriusXM, Amazon’s MGM, Primary Wave and Reservoir Media.
According to its blog, Audio Up will use the latest round of funding to ramp up its music ventures, building on a previous collaboration with Universal Music Publishing Group formed last year. It also plans to expand its studio and post-production facilities in Los Angeles and Nashville.
In a social media post made on Dec 20., the company hailed the funding as an “incredible way to cap off the year” and said it “can’t wait to share more details of what we’ve got planned for 2023.
