Wondery, the West Hollywood podcast network behind Los Angeles Times’ “Man in the Window” and “Dirty John,” announced today it raised a $10 million Series B funding round led by Palo Alto-based Waverley Capital.
Waverley Capital is a new investor in Wondery and contributed funds alongside downtown-based Greycroft, Powerhouse Ventures, Lerer Hippeau Ventures and Advancit Capital. Former National Geographic Partners Chief Executive Declan Moore joins Wondery’s executive team following this round as head of international programming.
Wondery will use the funds to acquire new and original content and invest in technology, the company said.
Edison Media Research reports 90 million Americans aged 21 and over listen to a podcast every month. The International Advertising Bureau estimates U.S. podcast ad revenue will reach $1 billion by 2021.
Wondery has raised $18 million to date, according to industry tracker PitchBook Data Inc. Other local backers of Wondery include Westwood-based BAM Ventures and Beverly Hills-based Watertower Ventures.
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @samsonamore.