Total amount raised
$151.3 Millions
Latest funding date
4/1/2018
Location
fuboTV has successfully raised over $250 million across multiple funding rounds, attracting a diverse group of investors including AMC Networks, Discovery, Inc., and The Walt Disney Corporation. The platform offers live sports and TV streaming without the need for a cable subscription, catering to a wide audience with its variety of channels and on-demand content.
Keep reading to explore the intricacies of fuboTV's fundraising journey and the investors backing this innovative platform.
What Is fuboTV?
fuboTV, founded on June 2, 2014, in New York, New York, is a sports-focused live TV streaming service. The company was established by Alberto Horihuela, David Gandler, and Sung Ho Choi. With a workforce of 501-1000 employees, fuboTV offers a wide range of live sports, TV shows, and movies, catering to diverse entertainment needs.
How Much Funding Has fuboTV Raised?
- Angel Round
- Amount Raised: $1.6M
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the platform and launch the service.
- Convertible Note
- Amount Raised: $725K
- Date: March 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage operations and product development.
- Series A
- Amount Raised: $4M
- Date: August 2015
- Lead Investors: DCM Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the service and increase marketing efforts.
- Series B
- Amount Raised: $15M
- Date: March 2016
- Lead Investors: Sky UK
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance content offerings and improve technology infrastructure.
- Series C
- Amount Raised: $55M
- Date: June 2017
- Lead Investors: Northzone
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series D
- Amount Raised: $75M
- Date: April 2018
- Lead Investors: AMC Networks
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand office space, grow the engineering and product teams, and enhance marketing efforts.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity for early investors and employees.
Total Amount Raised: $151.325M. Current Valuation: Not publicly disclosed.
Key Investors
- AMC Networks
- Details: AMC Networks is a prominent entertainment company known for its popular cable channels such as AMC, BBC America, and SundanceTV. The company has a strong presence in the media industry, producing and distributing content globally.
- Investment Focus Areas: Media, entertainment, broadcasting.
- Notable Investments: fuboTV, Acorn TV, Shudder.
- Northzone
- Details: Northzone is a venture capital firm that invests in technology companies at various stages of growth. The firm has a strong track record of backing successful startups in Europe and the United States.
- Investment Focus Areas: Technology, startups, early-stage companies.
- Notable Investments: Spotify, Klarna, iZettle.
- Sky UK
- Details: Sky UK is a leading British media and telecommunications conglomerate. The company offers a wide range of services, including satellite television, broadband, and telephony.
- Investment Focus Areas: Media, telecommunications, broadcasting.
- Notable Investments: fuboTV, NOW TV, Sky Mobile.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. The firm has a global presence, with offices in Silicon Valley, Beijing, and Tokyo.
- Investment Focus Areas: Technology, internet, mobile.
- Notable Investments: fuboTV, SoFi, Lime.
- 21st Century Fox
- Details: 21st Century Fox was a major American multinational mass media corporation. The company was known for its film studios, television channels, and news outlets before its assets were acquired by The Walt Disney Corporation.
- Investment Focus Areas: Media, entertainment, broadcasting.
- Notable Investments: fuboTV, Hulu, National Geographic.
What's Next for fuboTV?
fuboTV is poised to capitalize on the growing demand for live sports streaming, with plans to expand its content offerings and enhance its technological capabilities. The company aims to leverage its recent $75 million Series D funding to grow its engineering and product teams, develop new products, and extend its marketing efforts. This expansion could significantly increase its subscriber base and revenue, positioning fuboTV as a major player in the competitive streaming market.
Future fundraising opportunities appear promising, given the strong backing from high-profile investors like AMC Networks and 21st Century Fox. However, fuboTV will need to navigate challenges such as intense competition from established streaming services and the necessity to continuously innovate. Effective utilization of the raised funds and strategic partnerships will be crucial for sustaining growth and achieving long-term success.
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