N.Y.-based fuboTV, an online provider of live football content, announced on Tuesday that it has raised $4M in Series A funding. Since going live Jan. 8, fuboTV, whose OTT streaming provides access to numerous int'l football leagues including La Liga, Serie A and Ligue 1, has raised $5.6M in funding. The most recent round of funding was led by DCM Ventures, and included I2BF Digital, LionTree Partners and Luminari Capital, as
well as seed investments from former Fox Networks Group CEO Anthony Vinciquerra and Sling Media co-Founder Blake Krikorian. FuboTV CEO and co-Founder David Gandler said that the $4M sum the company received on Tuesday followed 60 days of talks with those investors. The new funding is the most recent evidence of how quickly fuboTV has gained momentum, as it boasts more than 175,000 registered users and drew more than 1.5 million visits to its platform in June. "We thought we were just building something ... because there was nothing in the space," Gandler said. "We didn't necessarily know how it was going to happen. It turned out there were a large number of investors that are very interested in the space." Gandler said that this funding will help fuboTV in a number of ways, including making technical improvements to the product, securing more content from rights holders and adding new employees who will join the current staff of 14. He said that fuboTV was founded with two goals. The first is providing access to sports coverage to "every human being, in whichever country they live." Gandler: "We also understand how expensive everything is, and we feel that rights
holders need to be rewarded for those rights, and they need to be
rewarded appropriately." After it initially was met with skepticism, Gandler believes fuboTV has shown "that this is something that's very important, and we know that we can co-exist with cable companies, with television networks, with everyone, providing each of the different groups with tremendous value."
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Source: fuboTV |