Sports-centric live streaming TV service fuboTV announced it has raised $75 million in a Series D funding round that saw AMC Networks join existing investors 21st Century Fox, Luminari Capital, Northzone, Sky and the former Scripps Network Interactive – now part of Discovery.
With the latest round, fuboTV has raised a total of $150 million since 2015.
The company said it plans to invest the funds in its engineering and product teams, grow its content offerings both in the U.S. and internationally, and increase marketing activity.
“This latest capital raise underlines a seismic shift in viewing behavior as consumers migrate from traditional platforms to streaming television,” said David Gandler, fuboTV CEO and co-founder, in a statement. “The pay TV space is experiencing a renaissance, and the company will use this investment to continue to drive technological advancement in video quality and latency, machine learning and predictive analytics to deliver a best-in-class experience.”
The company indicated it has grown its staff by 60 percent over the past 10 months and following the recent funding round, intends to double its staff and office space by the end of 2018. After closing its Series C round, fuboTV moved into a 17,000 square foot headquarters in New York City and intends to open a second HQ in a state and location to be determined later.
fuboTV surpassed 100,000 subscribers last September, and said it has experienced double-digit growth since then, though the company has not provided updated figures. The OTT TV service started out with a focus on streaming soccer games, but is now competing against a growing batch of virtual MVPD players including YouTube TV, DirecTV Now, Hulu, Sling TV, Sony’s PlayStation Vue and Philo.
fuboTV’s local streams include Fox coverage across 87 percent of U.S. households, 72 percent for NBC and 68 percent for CBS.
Its 70-plus channel bundle costs $44.99 per month, following one month of a promotional $19.99 rate and a free seven-day trial.