FloSports raises $47m in funding round

Texas-based sports streaming outfit FloSports has closed on a $47m (€41.8m) round of Series C venture fund, an infusion of cash that will allow the company to expand its coverage in new and existing sports.

The funding round was led by existing FloSports investor Discovery Inc.,  and also included fellow existing company investors Causeway Media Partners, LP, Fertitta Capital and DCM Ventures, as well as strategic investors World Wrestling Entertainment, Inc. and Bertelsmann Digital Media Investments.

In the first quarter of 2019, FloSports grew both subscribers and annual recurring revenue by more than 50 per cent over last year.

“We are excited to continue building on the momentum of our recent strong growth, including our best quarter ever,” FloSports chief executive & co-founder Mark Floreani said. “With this new round of funding from our investors, we will further enrich underserved sports communities by broadening our existing coverage and expanding into new verticals.”

FloSports in the first quarter of 2019, began coverage of two MLS clubs, DC United and FC Cincinnati and expanded its coverage of Big 12 Conference championships.