Sky, 21st Century Fox Invest in Sports-First Virtual MVPD fuboTV

NEW YORK: fuboTV, which is the fastest-growing virtual MVPD in the U.S., has raised $15 million in Series B funding, led by investments from Sky and 21st Century Fox.

The round will be used to grow the company’s expanding sports-first streaming video offering, develop new features and market the service to increase its subscriber base. As a result of the equity agreements, both Sky and 21st Century Fox will take board positions.

Launched in January 2015, fuboTV provides subscribers with a premium, OTT bundle of sports TV channels, featuring hundreds of live soccer matches, club videos, series, documentaries and other English, Spanish and Portuguese content.

Emma Lloyd, director of corporate development and strategic investments at Sky, commented: “We’re really excited to be investing in fuboTV. This investment will provide Sky with real insight and we look forward to working with the fuboTV team as they continue to explore new opportunities for growth.”

“We are very impressed by the fuboTV management team and the great progress they have made in a very short time,” said Ravi Ahuja, executive VP of business operations and development for 21st Century Fox operating unit Fox Networks Group. “Ultimately, we believe streaming services like fuboTV will drive further innovation and be a win-win for consumers and programmers.”

“The support from two of the most prominent media companies in the world strongly positions fuboTV to meet the demands of the quickly evolving sports rights ecosystem,” said David Gandler, fuboTV co-founder and CEO. “Investment from 21st Century Fox, Sky and the prominent individuals and organizations part of this Series B round demonstrates our potential to become leaders among linear OTT services.”