fuboTV, a NYC-based virtual multichannel video programming distributor in the U.S., raised US$15m in Series B funding.
The round was led by Sky and 21st Century Fox, which each invested US$6m, with participation from DCM Ventures, Luminari Capital, LionTree Partners, Edgar Bronfman, Jr. (Managing Partner at Accretive LLC and former CEO and Chairman of Warner Music Group), Chris Silbermann (founding partner, ICM Partners) and David Stern (former NBA commissioner and member of the Basketball Hall of Fame). As a result of the equity agreements, both Sky and 21st Century Fox will take board positions.
The company, which has raised a total of $20.6m in funding to date, intends to use the funds to expand its sports-first streaming video offering, develop new features and market the service to increase its subscriber base.
Co-founded by David Gandler (CEO), Sung Ho Choi (CTO) and Alberto Horihuela (CMO), fuboTV provides subscribers with a an over-the-top offering of sports TV channels, featuring hundreds of live soccer matches, club videos, series, documentaries and other English, Spanish and Portuguese content.
Officially launched in January 2015, fuboTV has more than 40,000 subscribers.
The service has in place distribution deals with TV channels that hold U.S. rights to major worldwide sporting events, including soccer matches from more than half of the leading international soccer leagues and tournaments, including Univision Networks, beIN SPORTS, GolTV and Benfica TV, as well as entertainment networks targeting millennials such as El Rey Network, Pivot and REVOLT.
fuboTV is available on desktops via www.fubo.tv; on Amazon Fire TV and Fire TV Stick; Android phones and tablets; Apple TV; Chromecast; iPad; iPhone; Kindle Fire; Roku; and T-Mobile’s Binge On.
The company had closed a $4m Series A round in August 2015, led by DCM Ventures and including I2BF Digital, LionTree Partners, Luminari Capital and Univision Communications Inc., as well as seed investments from Anthony Vinciquerra, former CEO of Fox Networks Group, and Blake Krikorian, co-founder of Sling Media.