Australia’s first and only BIPOC-led, women-owned podcast agency, The Peers Project has raised investment from venture firm, S&P Ventures, to launch into the U.S. market in 2024.
Founded in 2018 by B&T 30 Under 30 winner, Michelle Akhidenor (lead image), The Peers Project is an award-winning branded podcast agency producing podcasts for progressive brands worldwide.
The agency is thrilled to announce closing its first-ever investment round with Los Angeles-based venture firm, S&P Ventures, to launch into the U.S. market in 2024 with a specific focus on servicing Series A and B startups across the East and West coasts.
With a track record of producing chart-topping podcasts for global companies and challenger brands including Indeed.com, Shopify and Alibaba, the agency’s strategic move to launch into the U.S. market marks a significant milestone in The Peers Project’s mission to amplify diverse stories and voices whilst achieving tangible business outcomes for brands through the power of podcasting.
“S&P Ventures’ Co-founder Sam Mahmood has deep expertise in engineering success for cash-flowing service businesses and provides business mentorship and U.S. market experience that is unmatched,” said Michelle Akhidenor, CEO of The Peers Project.
“With only 2% of venture capital going to female founders and a staggering less than 1% to Black founders, venture firms like S&P Ventures who champion and support minorities must be celebrated and acknowledged for their contribution to us minority founders who are just as capable and if not more deserving of financial support”.
The Peers Project’s decision to expand into the U.S. market servicing brands across both the East and West coasts is backed by robust data demonstrating the increasing influence of podcasts in the consumer decision-marketing possess. According to Edison Research Annual Infinite Dial report, over 50% of podcast listeners are more likely to consider purchasing from a brand they hear about on a podcast, illustrating the medium’s potency in building brand credibility and trust, and driving sales.
“The podcasting audience is projected to hit 500 million listeners by the end of 2024 and exceed $43 billion in revenue by 2032, signifying the substantial opportunity for businesses to capitalize on this growing trend,” said Sam Mahmood, co-founder, partner and chief business development officer at S&P Ventures.
“Under Michelle’s leadership, The Peers Project is strategically placed to support brands across the U.S. to produce podcasts that allow them to build trust, loyalty and credibility with customers, and scale their brand to greater heights”.
The Peers Project is set to launch into the U.S. market in February 2024 with its HQ in New York.
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