iono.fm, a global online audio distribution platform for radio stations and other independent podcasters has raised an Angel investment of R2.5m from a Cape Town-based Clifftop Colony to fund its domestic consolidation and bolster its streaming and podcasting services.
“We have tracked iono.fm’s progress over the past four years and are deeply impressed with the team’s resilience, commitment and the world-class technology they have built. We look forward to the partnership with Ryan and his team and hope that we can contribute to building this business in the years to come.” Oliver Drews, CEO of Clifftop Colony
Founded in 2008, iono.fm optimises the uploading, hosting and sharing of audio content. The company also launched its own unique streaming solution in 2015 to complement its other audio services. The firm has also developed its own advertising engine that allows audio advertisements to be seamlessly inserted and removed from audio content hosted on its platform with clients such as Phillips, Investec, Standard Bank, Jaguar and Pepsi, amongst others.
iono.fm has more than 2000 local and international channels that utilize the platform for distribution, ranging from traditional FM radio stations such as SAFM, 5FM, Metro FM and East Coast Radio to independent digital content providers such as CliffCentral and Touch Central. International users of the platform include the likes of BBC, Deutsche Welle and TED amongst many others.
Over the last 12 months iono.fm has seen a 86% growth in podcast listens compared to the previous 12 month period. iono.fm currently hosts more than 220 000 episodes and publishes approximately 12 000 new episodes each month with the rate increasing as new content providers join the platform.
The firm makes money by charging a percentage platform fee on campaign value from the insertion of audio adverts into the episodes that are delivered from the platform as well as content providers sign up for a podcast hosting package to use the platform and / or for the live streaming services in addition to other audio hosting and distribution services.
“With a local and international presence of the Angels and Clifftop Colony itself, the consortium of investors are ideal partners for us as we continue to scale our business both domestically and globally” said Ryan Dingley, CEO and Founder of iono.fm.