Gimlet Media, the award-winning audio company behind hit podcasts StartUp, Reply All, and Homecoming, today announced a $15 million Series B round led by Stripes Group, a New York growth equity firm with investments in Refinery29, Blue Apron, Craftsy and more. The funding will support Gimlet's growth and expansion in the on-demand audio market. This follows Seed and Series A funding rounds, bringing Gimlet's total funding to date to $22 million since the company was founded in 2014. Graham Holdings, which led Gimlet's Series A, participated along with existing Gimlet investors Cross Culture Ventures, and Betaworks. Additionally, Emerson Collective, the organization founded and led by Laurene Powell Jobs, joined this round of funding.

"This investment is a gratifying validation that we are at the beginning of the second golden age of audio," said Alex Blumberg and Matt Lieber, co-founders, Gimlet Media. "We'll use it to continue expanding the definition of what on-demand audio can be. We're excited about what we'll make, and we think others will be excited as well."


"We are thrilled to be partnering with Matt and Alex in Gimlet's next chapter of growth" said Dan Marriott, Managing Partner, Stripes Group. "Matt and Alex have done a tremendous job positioning Gimlet as a category definer in a rapidly growing market, with a brand that stands for original, differentiated and premium podcasts. Across any medium that has ever existed - great storytelling wins. And Gimlet's success in defining this market has proven it yet again."

Patrick Keane, Operating Partner of Stripes Group and former CMO of CBS Interactive, has joined Gimlet's board. He joins existing board members: Tim O'Shaughnessy, Chief Executive, Graham Holdings; Alex Blumberg, co-founder and CEO, Gimlet Media; and Matt Lieber, co-founder and President, Gimlet Media. Gimlet will also be adding a fifth independent board member later this year.

The Series B funding caps a period of significant growth for the company, and the on-demand audio industry at large. In the past year, Gimlet doubled listenership, revenue, and output of Gimlet Creative, the company's in-house advertising arm and content studio. Additionally, Gimlet tripled its production of podcasts expanding its roster to over a dozen owned and operated properties. In this period, Gimlet also established a successful pipeline developing its IP into other forms of media including television, film and literature.

Gimlet will use this new investment to fuel the company's growth in four key areas: new programming, training & talent development, Gimlet Creative, and expanding Gimlet's IP development pipeline.


New Programming - Gimlet's mission is to help audiences better understand the world and each other through arresting audio storytelling. We will continue to do just that, developing engaging, diverse programming in new categories, including fiction, children's programming, and more.

Training and Development - Gimlet will create an advanced in-house training and development program, creating a clear path for growth and development for audio producers. Additionally, the program will include an intentional strategy surrounding diversity and inclusion, creating opportunities that will lead to more diverse leadership across the organization.
Gimlet Creative - Gimlet will double down on Gimlet Creative and invest in growing the award-winning team who produces podcasts for our brand partners, as well as industry-defining native audio advertising. The company will expand, develop, and innovate new audio advertising products, both within podcasting and audio more broadly.

Multiplatform Development: In the past year, Gimlet successfully built a lucrative and steady pipeline to develop Gimlet IP into other media formats including feature films, TV, literature and more. Gimlet's first podcast, StartUp, is being adapted by ABC into a single-camera sitcom, Alex, Inc. premiering in 2018, starring Zach Braff. And Gimlet's first fictional series, the 2016 Peabody Finalist Homecoming, was recently given a two season order at Amazon Studios starring Julia Roberts in her first TV series ever. Gimlet will have a larger, more intentional role in developing our properties for other forms of media, expanding on our current strategy, with plans to greatly grow our development in the next year.


For more information on Gimlet, the company's programming, Gimlet Creative, and more, visit GimletMedia.com and follow us @gimletmedia.

About Gimlet Media
Gimlet Media is an award-winning media company that aims to help audiences better understand the world and each other. Gimlet was founded in 2014 and is behind hit series such as StartUp, Reply All, Homecoming, Crimetown and more. Based in Brooklyn, New York, Gimlet reaches audiences in nearly 190 countries worldwide. Follow us @GimletMedia.

About Stripes Group
Based in New York City, Stripes Group is a leading growth equity firm that invests in Internet, Digital Media, Software, and Branded Consumer Products businesses around the world. For over a decade, Stripes Group has been partnering with market-leading companies with proven business models that are generating exceptional growth. For more information on Stripes Group, visit www.stripesgroup.com.