US-based sport video streaming platform FuboTV completed a $55m series C round on Monday that included media companies 21st Century Fox, Sky and Scripps Networks Interactive.
Venture capital fund Northzone led the round, which increased the company’s overall funding to $75.6m. Northzone partner Pär-Jörgen Pärson will join its board of directors.
FuboTV provides a sport-focused live video streaming service to subscribers that is available on its own site as well as platforms such as Chromecast, Kindle Fire and Roku. Its package includes some 55 channels covering national channels and regional networks.
The series C capital will be used to expand marketing activities and grow the company’s basic range of channels as well as its product and engineering teams. It plans to improve its back-end technology and add extra features to the platform.
Sky and 21st Century Fox each supplied $6m of the $15m raised by FuboTV in its last round, a series B that closed in March 2016 with contributions from DCM Ventures, Luminari Capital, LionTree Partners and angel investors Edgar Bronfman, Jr, Chris Silbermann and David Stern.
Media group Univision Communications had already joined LionTree Partners, Luminari Capital and I2BF Digital, a subsidiary of investment firm I2BF Global Ventures, for the company’s $4m series A round in 2015.