Cinchcast Announces $6 Million in Funding
Investment to fuel continued expansion of Cinchcast’s industry-leading enterprise audio publishing and management solutions
New York, NY: August 17, 2011- Cinchcast Inc., formerly BlogTalkRadio Inc., a company that provides solutions for businesses and consumers to create, share, measure and monetize audio content, today announced the company has received $6 million in Series B funding. The investment was led by Guggenheim Partners. The funding will provide ongoing support for Cinchcast to expand its industry-leading enterprise audio publishing and management solutions, scale sales and marketing, and grow its media property, BlogTalkRadio.
The cloud-based Cinchcast audio management platform provides a simple way for businesses to record and broadcast high-quality audio content, without the cost, time, and logistical burdens of traditional audio recording or alternative rich media technologies. Using any phone and a web browser, companies can produce and publish interactive audio content and easily share this content with built-in syndication, mobile and social marketing tools. Cinchcast empowers companies to leverage unique audio content in innovative ways to reach and engage the people that are most important to their business.
“We know that online publishers, marketers, and corporate communication professionals are looking for new ways to create compelling, interactive content at scale. We’re excited to provide businesses with simple and cost-efficient solutions for delivering the types of valuable rich media content that consumers want, when and where they want it,” said Alan Levy, chairman and CEO, Cinchcast. Levy continued, “This investment will empower us to support and grow our existing customers, while further expanding our product and service offerings to make it even easier for companies to create, distribute and monetize original audio content.”
“We’re very pleased to be investing in Cinchcast right now. Building on the success of BlogTalkRadio, this team has the necessary experience, knowledge and market-leading products to expand its reach into the enterprise market,” said Douglas Atkin, senior managing director responsible for venture investments in financial technology and digital media sectors at Guggenheim Partners.
About Cinchcast Inc.
Cinchcast was developed to enable businesses with a simple and powerful solution to produce and share original audio content. Headquartered in New York City, Cinchcast powers audio creation and publishing for companies such as United Business Media, Business Insider, SAP and Sears, and is the technology behind BlogTalkRadio. For more information, please visit www.cinchcast.com
About Guggenheim Partners
Guggenheim Partners, LLC is a privately held global financial services firm with more than $100 billion in assets under supervision including management of assets in excess of $80 billion. The firm provides investment management, investment banking and capital markets services as well as insurance and investment advisory solutions for institutions, corporations, governments and agencies, investment advisors, family offices and individuals. Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 25 offices in nine countries.
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