Alex Blumberg’s podcast network just raised $675K

American Podcasting Corp has raised $675,000 on an offered $1.5 million debt-only round, according to an SEC filing.

Its cofounders, Alex Blumberg and Matt Lieber are documenting the building of their company on the StartUp Podcast.

The news comes as the two get shout-outs in a recent story in The Washington Post about how the podcasting sector is now turning a profit.

On a recent episode of This American Life, the show aired part of an episode of the StartUp Podcast. In it, Blumberg explains that his vision is simply to start a company that makes high-quality podcasts, like the ones he made for NPR. In other words, a content company. The American Podcasting Corp will then be competing with existing networks, like Maximum Fun, Earwolf, Carolla Digital and Nerdist.

At Techweek New York, we asked Buzzfeed CEO Jonah Peretti what he foresaw for the future of podcasting. He said that his company is continually discussing the medium, but that many feel that its method of delivery is too locked down by Apple for companies to really be able to do it effectively, glean the kind of insights they need and distribute with flexibility.

(Update: 10/9/14, 11:32 a.m.)

In an email from cofounder Matt Lieber, we learned the team has actually raised slightly more than $1 million at this point. Lieber also says to look out for a branding update.

“American Podcasting Corporation is the name we’re incorporated under, but we’ll be announcing a new name soon,” he wrote.