What started as a soccer-centric streaming television service has quickly become a premier destination for people looking to stream live sporting events. And the service just got another big boost.
FuboTV announced today that they have closed another round of funding, racking up $55 million in Series C fundraising. The funding was led by venture capital fund Northzone, who was an early investor in Spotify, and also included 21st Century Fox, Sky and Scripps Networks Interactive.
That means fuboTV has raised more than $75 million to date in total funding. The newest round of cash influx will help the streaming television service building on their technology, expanding marketing, and create new features specifically with sports fans in mind.
They’re also expected to add more channels to their entry level “Fubo Premier” bundle, which already has over 50 channels. And that’s where Fubo is really starting to set itself apart from the competition. Over 30 of the channels in their basic bundle are sports related, some of them not available on any other service.
Fubo carries action from virtually every major sports network, with professional and collegiate tournaments across the globe available. There are even several league and region specific networks. Couple with their excellent DVR, it’s becoming a must have for sports fans without cable.
Speaking on why they chose to invest, Par-Jorgen Parson from Northzone said “Fubo is at the apex of capturing a fundamental shift in consumer behavior. Just like we saw as early investors in Spotify within the music business, this will be potentially an even bigger game changer as television consumption moves online to mobile devices, computers and TV apps.”
Sports is certainly prime real estate in the TV landscape, and Fubo had already emerging as a top name in the industry. They’ve seen immense growth in the two years since they launched, and it doesn’t look like they have any signs of slowing down.