Backtracks, a data and analytics and hosting platform for podcasts, announced Thursday that it has raised $2.1 million in seed stage funding.
Moonshots Capital, Capital Factory, Sputnik ATX, Next Coast Ventures, and Bull Creek Capital led the round with participation from BNSG Capital.
Backtracks plans to use the funding to further product innovation and to hire key staff. As part of the deal, Kelly Perdew, co-founder and managing general partner at Moonshots Capital will join the board.
Previously, Backtracks received $100,000 in seed stage investment from Austin-based Sputnik ATX and participated in the accelerator’s inaugural class in 2018.
Backtracks provides audience data information to podcasters and advertisers. With the data, advertisers can then launch targeted campaigns to listeners and podcasters can make money from their podcasts.
Jonathan Gill and Kevin Wright founded Backtracks. They previously worked together at Mozu, which Vista Equity Partners acquired.
“Podcasts and spoken word audio content are experiencing massive growth with an expected 53% increase in listenership over the next four years. Backtracks allows audio content creators and brands harness the power of that growth to own their revenue and drive audience growth,” Gill, CEO of Backtracks, said in a news release.
“The podcasting space is a massive market that is ripe for disruption and Jonathan and Kevin are the team to do it,” Michael Smerklo, co-founder and Managing Director of Next Coast Ventures said in a news release. “They are seasoned founders with deep domain expertise on the complexities of designing an industry-agnostic platform that can integrate different offerings for customers big and small. Backtracks is not just a company that has the most cutting-edge analytics or the latest monetization tools to leverage advertising, their platform truly serves as a one-stop shop for brands that want to extend their reach and unlock the full potential podcasting has to offer.”
