Entertainment Startup FuboTV Secures $55 Million

FuboTV announced it has secured $55 million in Series C financing. Four investors contributed to the round: Northzone Ventures, 21st Century Fox, Sky, and Scripps Networks Interactive.

FuboTV is a content subscription service, dedicated to premium live sports, that bundles cable networks, club channels, TV series, documentaries and news to create a single platform for sports fans. FuboTV claims to be the world’s only cloud-based TV service dedicated to live soccer games, documentaries, club channels, and more for soccer enthusiasts.

According to CEO David Gandler, the company will use the funding to increase marketing spending and develop new products designed specifically for people watching sports matches and related content.