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Fox and Sky step up backing of FuboTV with fresh funding

US sports-focused OTT streaming service FuboTV has secured a further $75m (€61.3m) from investors including media group 21st Century Fox and European pay-television broadcaster Sky as it seeks to expand operations.

The Series D round included new participation from entertainment company AMC Networks, along with existing investors Fox, Sky, venture capital firm Luminari Capital, technology investment partnership Northzone and cable-television channel owner Scripps Networks Interactive, which is now part of Discovery Communications.

The Variety website said New York-based FuboTV has now raised $150m in total and will seek to use the new funds to expand its engineering and product teams, as well as increase marketing spend and produce new content bundles in the US and internationally. It will also reportedly seek to open a second major office in a yet to be determined location.

“The pay-TV space is experiencing a renaissance, and the company will use this investment to continue to drive technological advancement in video quality and latency, machine learning and predictive analytics to deliver a best-in-class experience,” David Gandler, FuboTV chief executive and co-founder, said.