By Evan DeSimone
Live soccer streaming service FuboTV announced today that it has raised $4 million in Series A funding led by DCM Ventures, along with I2BF Digital, LionTree Partners and Luminari Capital. Fubo also secured seed investments from Anthony Vinciquerra, former CEO of Fox Networks Group, and Blake Krikorian, co-founder of Sling Media.
Launched in January of 2015, FuboTV caters to soccer enthusiasts with an SVOD platform that bundles live sports, cable networks, 24-hour club channels, international blocks, TV series and news dedicated to the sport into one package. The company was founded last year by David Gandler, Alberto Heurihola, and Sung Ho Choi, all of whom previously served as executives at Korean drama streaming platform DramaFever.
FuboTV CEO David Gandler previously served as VP of Ad Sales & Programmatic at DramaFever
The new funding will be used by Fubo to accelerate its efforts in building TV network carriage agreements, expanding platform features and content marketing. The service currently carries games from major international leagues like La Liga, Serie A, Ligue Un, Primeira Liga, Copa America and English League Cup thanks to carriage deals with beIN Sports, GoITV and Benfica TV.
Live streaming sports content is experiencing a boom in the digital video space right now. The PGA Tour recently announced the launch of its own dedicated VOD service, PGA Live, to deliver live coverage of all the tour’s previously non-televised events. FuboTV’s model is also part of a wider trend in digital licensing for international television content that has also seen the rise of specialized streaming content providers such as DramaFever and anime specialist Crunchyroll.