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Photo of Blue Wire CEO Kevin Jones, Photo credit: Olivia May

Blue Wire, a sports podcast company, has raised $5 million in its series A round, founder Kevin Jones tell Axios.

Why it matters: The company, which focuses on long-form sports narrative podcasts and conversational podcasts, now hosts more than 140 podcasts with over 20 million downloads for the year. It has $1.5 million in 2020 revenue via sponsorship partnerships via brands like Chevy and Visa.

Details: The round is being led by Dot Capital, which led its $1.2 million seed round in February. Dot is being joined by Bettor Capital, Side Door Ventures and Forty5 Ventures.

  • "Kevin's been delivering over the past 10 months on everything he said he was going to deliver," says Joe Saviano, Managing Director at Dot Capital. "When someone does that, you reward them."

The money will be used to hire out an executive team and to bring on editorial talent. It's actively looking to fill COO and CMO roles.

  • Blue Wire is specifically focused on highlighting minority and female voices in sports.
  • 35% of its podcasters are people of color. Sports media and sports audio is predominantly white and male.
  • "I was inspired by Blue Wire's ambitions to deviate from the traditional sports media outlets," says Haley O'Shaughnessy, who joined Blue Wire from The Ringer and noted the company's emphasis on giving a platform to women in media.

The money will also be used to build out the company's studio and to finance the creation of a yearly slate of 8-10 original podcast series.

  • The company is working with the United Talent Agency to pitch some of its original long-form podcasts to be optioned for film and TV, including its hit original series American Prodigy, which Jones says has caught the attention of Hollywood studios and literary agents.
  • "Podcasting is becoming the new books," says Jones. "We are going to lean into that unlike anyone else in sports right now."

The bottom line: Sports audio as a whole is booming but there still isn't a go-to place for most athletes, pro teams and sports media personalities to make and monetize their own high-quality audio content.

Go deeper

Jan 25, 2021 - Economy & Business

Audio messaging platform Yac raises $7.5M Series A

Yac

Yac, an online voice messaging platform, has raised $7.5 million in venture funding led by GGV Capital and the Slack Fund, which funded the app last year.

Why it matters: Yac helps companies integrate audio messaging into their workflow. It launched at the beginning of the pandemic and has benefitted enormously from companies needed improved communication during remote work.

2 hours ago - World

U.S. drone strike victims' families in Afghanistan seek compensation

A relative of Ezmarai Ahmadi, who was killed by a U.S. drone strike, looks at the wreckage of a vehicle that was damaged in the strike in the Kwaja Burga neighbourhood of Kabul on Saturday. Photo: Hoshang Hashimi AFP via Getty Images

Relatives of 10 Afghans killed by a U.S. drone strike in Kabul last month said Saturday they want to see punishment and compensation over the deaths.

Driving the news: The relatives said it's "good news" that the U.S. had "officially admitted" that "they had attacked innocents" in the Aug. 29 strike that killed Zamarai Ahmadi, an aid worker with a U.S.-based group, and nine family members, but they still need "justice," per AFP.

Miriam Kramer, author of Space
6 hours ago - Science

All-civilian Inspiration4 is back on Earth after flight to space

A side-by-side of the Inspiration4 crew and a shot of their capsule on the way back to Earth. Photo: SpaceX

The all-civilian Inspiration4 crew is back on Earth after their three-day mission in orbit.

The big picture: The launch and landing of this fully amateur, private space crew marks a changing of the guard from spaceflight being a largely government-led venture to being under the purview of private companies.