FuboTV lands another $55M in funding from Fox, Sky and Scripps

Fubo plans to use the new funding to expand its basic lineup with new programming, make new hires for its engineering and product teams and expand its marketing efforts.(FuboTV)

Sports-heavy streaming TV service FuboTV raised another $55 million from venture capital fund Northzone as well as 21st Century Fox, Sky and Scripps Networks Interactive.

After the latest Series C round of funding, the total investment raised to date by FuboTV is now more than $75 million.

Fubo plans to use the new funding to expand its basic lineup with new programming, make new hires for its engineering and product teams and expand its marketing efforts.

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“Sports represents prime real estate in the television market, with a massive and engaged audience share, and Fubo has already achieved market-leading coverage of the best live sports content. [FuboTV CEO] David [Gandler] and his team have achieved incredible growth in the two years since launch, and we are excited to be partnering with Fubo as they take the next steps in building the online live sports experience of the future,” said Pär-Jörgen Pärson, partner at Northzone who is also joining Fubo’s board, in a statement.

“Closing this latest round of funding is testament to our ability to execute efficiently in a very competitive market, and to our investors’ acute understanding of the future of our industry. Long term, we are best positioned to drive value for all major media companies and consumers in the U.S. and abroad,” said Gandler in a statement.

RELATED: Fubo’s Gandler: Our sports-first focus, right-sized bundles differentiate us from other MVPDs

Earlier this year, Gandler told FierceOnlineVideo that FuboTV’s focus on sports and channel bundles are setting it apart in an increasingly crowded field of virtual MVPDs.

“I would compare year two of Fubo as Netflix in its second year of existence when it decided to switch to streaming and then from streaming to original programming,” Gandler said. “We’re in that similar situation where we have built out a service, it’s growing nicely, we’re well known to a specific type of sports fan, and have an opportunity to expand that service for the U.S.”

Fubo is offering its Premiere channel package at an introductory rate of $34.99 per month. The service provides access to live channels, VOD, DVR and authenticated access to several channels’ websites and apps.

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